Copper Prices Falling
Posted: January 14, 2015
So I generally like to talk about positive things when we do these articles, but with copper prices falling like they have over the last few days we had to touch on them.
The copper prices falling does not come as a shock to many, especially with the gas and oil prices decreasing so much. We explained recently that while so many people are happy about gas prices falling, that gas is a major commodity, like copper, and with prices falling over 50%, one can’t be surprised by these copper prices falling so fast in 2015.
Many people are saying that these prices going down for copper and other metals that it is overdue and should have started been a sharper drop in prices back in July-August of 2014.
I think that the prices are going to continue to go down, and I have told many customers that the prices are going to continue to decrease at least 20-30 cents more per lb. With the markets slowing down many people have asked why this has happened…and my answer is always, if I knew the answer that I would be retired already.
Many people, articles, videos, and industry people that I have talked to have said the same thing…they are not positive why it is all happening in such a quick drop. They understand that the prices can go down, but with the drops so quick it is tough to really see how the copper prices dropping will continue to go.
Copper prices have been one of the things that we went into 2015 not being too sure about and the market has confirmed our predictions. At Rockaway Recycling we are trying to help our customers weather the storm by sending out price alerts as well as updating our prices online daily. It is tough sometimes to guess where things will go, so when people stop by once a week and see the prices dropping so quickly it is hard to really explain why it is happening or what we think is going to happen going forward.