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Best Price for Copper in Singapore
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everything you need to know about selling copper
About Copper
Copper is a highly reliable indicator of the global economy and is often referred to as "Dr. Copper" due to its ability to reflect the health of the global economy. As one of the most widely utilized and valuable metallic elements, copper is integral to virtually every aspect of society and is highly sought-after in countries undergoing significant growth and development. Because of its widespread use in industries ranging from construction to electronics, copper is always in demand, especially in countries experiencing rapid expansion. As such, the price of copper is closely watched by economists and investors as a key indicator of economic health and growth potential.
Our company constantly monitors the LME price of copper to ensure that we offer competitive prices to our customers. However, similar to selling gold, the price received for scrap copper will not be the full market value. This is due to the fact that dealers must pay a smelter, who melts the copper and refines the metal, as well as other costs such as shipping and transport. As a result, you can expect to receive a balance that is still around 90%** of the LME value, depending on the copper grade.
To see the latest copper price trend, check out the past months price chart by clicking here. The price of copper is subject to fluctuation on a daily basis due to various factors, which we’ve outlined in an article on our website.
(**Please note that the percentage only applies to the best grade of copper and copper metal, and is subject to change based on global market conditions without prior notice from our company.)
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
M1/No.1 copper, also known as "Millberry" or "Bright and Shiny" copper, is a specific grade of copper commonly found in Singapore. It is typically obtained by stripping the insulation from copper cables and wires. The clean and un-coated surface of M1/No.1 copper makes it highly desirable for reuse or recycling purposes, leading to a higher market price compared to other base metals. This grade of copper is often prioritized by scrap collectors due to its value and demand in the market
Characteristics
To qualify as M1/No.1 copper, it is important that the copper is completely stripped of any form of insulation and is free from contaminants such as signs of oxidation or noticeable patina. Additionally, the thickness of each strand of copper should generally be more than 2.5mm, which is approximately the thickness of a standard pencil lead used in school. However, it's worth noting that as of 2020, most scrap yards in Singapore have set a minimum acceptance criteria for M1 copper at 6mm and above. This means that copper wires with a thickness of 6mm or more are typically categorized as M1/No.1 copper. In addition, there is now a new category called M2 for copper wires ranging from 1.5mm to 4mm in thickness. This category was introduced to accommodate copper wires that do not meet the thickness requirement for M1/No.1 copper but are still of value for recycling purposes.
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
It is crucial to separate your copper into their respective grades before visiting a scrap yard. This practice ensures that you receive the highest possible payment for your scrap copper. When copper of different grades is mixed together, some scrap yards may only pay you according to the lowest grade in the mixture. Moreover, consistently mixing different grades of copper can harm your credibility with scrap yards over time. By taking the time to sort and separate your copper into their appropriate grades, you demonstrate professionalism and enhance your reputation as a reliable seller. This approach not only maximizes your financial returns but also establishes trust and credibility with scrap yards for future transactions.
02.
Accumulate more
Alongside sorting your copper into different grades, accumulating a larger quantity of scrap copper can indeed provide you with better negotiating power when it comes to pricing. In the trading world, weight holds significant importance, and having a larger quantity of copper can strengthen your position to request a higher price. When you have a substantial amount of copper, such as 2000kg, compared to a smaller quantity like 20kg, scrap yards are more likely to consider your request for a higher price per kilogram. The economies of scale come into play, as handling and processing larger quantities can be more efficient for the scrap yard. By accumulating a significant amount of copper before selling, you can leverage this advantage during negotiations and potentially secure a more favorable price for your scrap copper.
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
To ensure you get the best market price for your copper, it's a good practice to conduct due diligence by checking with multiple recycling companies before making a decision to sell. With the prevalence of online presence, most recycling companies now have an online presence as well. By reaching out to at least three different companies, you can gather quotes and compare them to determine the most favorable offer. This process allows you to assess the market price for your copper and make an informed decision. It's important to note that prices may vary slightly among different companies due to factors such as their operational costs and specific market conditions. Taking the time to research and obtain quotes from multiple companies demonstrates your commitment to securing the best possible price for your copper. It also provides you with a basis for negotiation and ensures that you are making an informed choice when selling your copper.
05.
Happy recycling
Copper recycling attracts people for various reasons. Some individuals engage in copper recycling as a means of livelihood, while others do it out of a frugal mindset. Additionally, we have encountered a small group of Singaporeans who are motivated by the desire to ensure proper recycling of their items, rather than having them end up in a wasteland. We appreciate and commend your commitment to recycling. By participating in the recycling process, we all contribute to reducing waste in our limited landfills. Recycling copper and other materials not only conserves natural resources but also helps to minimize environmental impact. Together, let us play our part in creating a more sustainable future by reducing waste and promoting responsible recycling practices.
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