why is the price of copper so high? and when will it go down ?

Answer 1

With all due respect to Emily, pennies today are no longer made of copper. They are made primarily of aluminum, with a copper-colored coating. It's cheaper than copper. And since the price of copper is so high, it's not going back to copper soon.

Metals (like copper) have a tendency to fluctuate significantly in value, depending on the changing needs of industry. For example, during WWII, copper and nickel were desperately needed by the military, so from 1942-45, nickels were created from silver, and in 1943, pennies were created from steel.

One of copper's valuable characteristics is its ability to conduct electricity, and in addition, it is soft and easy to bend without breaking. Modern technology has many uses for metals like this, which drives up demand, and drives up prices. However, if history repeats itself, the price may fall as suddenly as it rose. It all depends on the classic economic principle of supply and demand!

Answer 2

Copper is being used by the emerging markets for many industrial needs. For example China and India are also buying a lot of steel and iron to build buildings and factories. Copper is used for piping in buildings. Economics 101, supply and demand are driving up the prices. I don't see prices coming down for several years as China and India are just starting their industrialization like the United States back in the 1920's.

Answer 3

'beactive' poster is right about an increase in demand from China as the root cause. the others are right about the higher fuel cost passed on to mine the stuff too. Any slowdown in demand will drop the price however.

Answer 4

Fuel cost!!! it takes fuel to mine, process and distribute copper products

Answer 5

i dont know but they might get rid of pennies in the united states because they are so expensive to make

Answer 6

Probably alot of wiring, and possibly pipes.