Copper metals are often thought to be one of the more expensive alloys on the market. While it might be true that scrap copper metal piping is one of the more expensive metals commonly found in homes, copper is not one of the most expensive metals available on the market. It is, however, the third most highly used metal in the world. Demand continues due to renewable energy projects and electric cars for copper wire resistance. As demand continues, copper price volatility and the price of copper has only increased in the last 50 years.
The pricing of metal is determined by a few different factors. Copper wire price per pound is determined mostly by end-use. In the short-term, however, the costs are determined by the financial market, hedge funds, political risks and government policies. As is the case with most metals, changes in pricing due to market volatility is common.
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