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everything you need to know about selling copper
About Copper
Copper is one of the most reliable indicator of the global economy. It is known as "Dr Copper" because its trading cash value indicates the health of the global economy. It is highly relied upon, highly valued and widely utilised metallic element within every aspect of a society undergoing a serious growth phase. Therefore, it is always in demand in countries that are expanding or developing at a fast pace.
We follow the LME price closely to ensure that our copper prices remain competitive at all times. Just like selling gold, you will not receive the actual full market value when you sell scrap copper. This is because dealers must pay a smelter, someone who melts the copper, up to a certain percent of the value to refine the metal and also many other cost like shipping and transport cost. As such, you’ll receive the balance which is still in the range of 90%** of the LME value, depending on the grade of the copper.
Click here for the past months price chart to see the latest copper price trend. Copper price fluctuates almost daily due to several factors. We have written an article that explains what factors might affect the price of copper.
(**Only applicable to the best grade of copper and copper metal only. The percentage is subject to change due to global market conditions without further notice from this site. )
Different grades of copper
For people who are serious into copper recycling, we will explain further how to classify different grades of copper. Scrap yards in Singapore take in all kinds of scrap copper, but they pay different prices for different grades. If you are still unsure after reading , just drop us a whatsapp message and we will guide you along. Here is a brief summary of the 3 different grades of copper ;
Grade 1/m1/ no. 1 cu
Known as M1/No.1 copper in singapore , this type of copper is usually recovered from copper cables and wires after going through a stripping process. Its clean and un-coated surface make it easy to reuse or recycle, and demand a high market price compared to other base metals. As such, it is usually the first thing that scrap collectors look for.
Characteristics
Stripped from any form of insulation and free from any form of contaminants which includes signs of oxidation and very negligible amount of patina. The thickness of each strand of copper should be more than 2.5mm in general ( As a guide, the pencil lead that we use in school). As of 2020, most scrap yards only accept 6mm and above as M1. There is now a new category call M2 for copper wires ranging 1.5mm to 4mm.
Grade 2/ no.2 Copper
A few kind of coppers fall into this grade. They are generally found in household electrical appliances, plumbing system and electrical wiring system. Tinned copper is also part of this grading. Some other examples also include copper pipe, bus bars and copper tape.
Grade 3/ Motor Copper
This type of copper is commonly found inside transformers or electric motors. It has a darker coating compared to the rest of the coppers. Scrapping electric motor for this copper is not easy and you should proceed only with personal safety protection.
Some helpful tips you should know
01.
Sort out your copper
Separate your copper into their respective grades before heading down to any scrap yard. By doing so, you will be paid more when you sell your scrap copper. If you mix them altogether, some scrap yard may just pay you the lowest grade that is among the mixture. Most importantly, mixing the copper with different grades will decrease your credibility in the long run.
02.
Accumulate more
In addition to sorting out into different grades, the next best thing you can do is to accumulate your copper. In the trading world, weight is king. If you have 2000kg of scrap copper compared to 20kg, you have a better negotiating power to ask for higher price.
03.
Weigh it yourself first
Find out the weight of your copper first by weighing it with a scale to prevent any fraud.
04.
Ask for 3 quotations
You can also do your due diligence by checking with 3 companies before deciding to sell your copper. Nowadays, everybody is online and that includes recycling companies! This way, you can be certain that you are selling away at the best market price.
05.
Happy recycling
Some do it for a living, some do it out of frugality and we have also met a small group of Singaporeans who just wish to see their items recycled properly rather than disposed in the wasteland. Thank you for recycling and let's do our part in reducing the waste at our limited wasteland
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