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Surging Copper Prices Highlight Growing Importance of Metal Recycling Companies

Surging Copper Prices Highlight Growing Importance of Metal Recycling Companies
Metal Stocks In Focus
According to a May 27, 2024 Credendo Research Report, Copper Sector: Record-Breaking Copper Prices Amid Speculations of Supply Shortages, demand for copper is being driven by a, "boom in investments in green technologies

Copper prices have reached unprecedented levels due to a combination of financial speculation and anticipated supply shortages. Investment from banks, miners, and funds has intensified, driven by optimistic projections for copper’s future, especially in emerging sectors like electric vehicles, renewable energy, and artificial intelligence. This influx of speculative investment has exacerbated the price rally, particularly as supply concerns mount with potential smelter output cuts. The rally peaked in May due to a short squeeze in New York, underscoring global urgency to acquire the metal amid warnings of a significant supply-demand imbalance. 

China's copper scrap imports have significantly increased due to a concentrate shortage, triggered by First Quantum's loss of rights to operate the Cobre mine in Panama. This mine previously contributed 1% to the global copper supply. In response, Chinese smelters have ramped up scrap imports to mitigate the shortfall. Notably, imports from the U.S. surged by 37% in the first four months of 2024 compared to the same period in 2023, reaching 153,059 tonnes. However, the spike in U.S. scrap prices—reaching a record $11,460 per tonne on the CME—has prompted Chinese buyers to defer further U.S. shipments and consider pricing against the more favorable rates on the London Metal Exchange. This strategic shift is part of broader efforts by Chinese smelters to navigate concentrate shortages and sustain production amidst volatile market conditions.

Metal recycling companies stand to benefit significantly from the soaring copper prices and tightening supply. As the value of recycled copper increases alongside the demand from sectors like electric vehicles and renewable energy, recycling firms can see higher revenues. Additionally, with copper ore supplies constrained and potential smelter output cuts, industries may increasingly turn to recycled copper as a more sustainable and economically viable alternative. This shift not only boosts the profitability of recycling companies but also positions them as crucial partners in global supply chains, enhancing their strategic importance and potential for growth in a market focused on sustainability.

This brings focus on companies like Greenwave Technology Solutions, Inc (GWAV). Greenwave Technology Solutions, Inc (Nasdaq: GWAV) through its wholly owned subsidiary Empire Services, Inc. ("Empire"), is an operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The Company's recycling facilities collect, classify, and process raw scrap metal (ferrous and nonferrous).

On June 5th, GWAV announced that its downstream processing system generated record revenues in May 2024, driven by both increased volume and higher prices. Back in July 2023, Greenwave commenced operation of a downstream processing system at its Kelford, North Carolina facility, enabling the Company to recover millimeter-minus pieces of metal from its automotive shred residue or "fluff" as it is known in the industry. The Company has invested more than $500,000 in an Orbcon PTV balling mill, focused on extracting copper from the shred residue.

As per the press release, Greenwave is on track to generate record revenues driven by the volume of steel and copper processed in 2024. Time to start your research now on GWAV by visiting their website at https://www.gwav.com/.

Other notable metal stocks to keep an eye out for include Rio Tinto (NTSE: RIO), Nucor (NYSE: NUE), Wheaton Precious Metals (NYSE: WPM).

 

Disclaimer: This blog post is for informational purposes only and does not constitute financial advice or an endorsement of ATNM or its strategies. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Please ensure to fully read and comprehend our disclaimer found at https://investorbrandmedia.com/disclaimer/. InvestorBrandMedia.com has been compensated five hundred dollars by a 3rd party Momentum Media LLC  for content distribution services on GWAS for June 18th, 2025. InvestorBrandMedia.com is neither an investment advisor nor a registered broker. No current owner, employee, or independent contractor of InvestorBrandMedia.com is registered as a securities broker-dealer, broker, investment advisor, or IA representative with the U.S. Securities and Exchange Commission, any state securities regulatory authority, or any self-regulatory organization. This article may contain forward-looking statements as defined under Section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. These statements, often incorporating terms like “believes,” “anticipates,” “estimates,” “expects,” “projects,” “intends,” or similar expressions about future performance or conduct, are based on present expectations, estimates, and projections, and are not historical facts. They carry various risks and uncertainties that may result in significant deviation from the anticipated results or events. Past performance does not guarantee future results.InvestorBrandMedia.com does not commit to updating forward-looking statements based on new information or future events. Readers are encouraged to review all public SEC filings made by the profiled companies at https://www.sec.gov/edgar/searchedgar/companysearch. It is always important to conduct thorough due diligence and exercise caution in trading.InvestorBrandMedia.com is not managed by a licensed broker, a dealer, or a registered investment adviser. The content here is purely informational and should not be taken as investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor regarding forward-looking statements. Any statement that projects, foresees, expects, anticipates, estimates, believes, or understands certain actions to possibly occur are not historical facts and may be forward-looking statements. These statements are based on expectations, estimates, and projections that could cause actual results to differ greatly from those anticipated. Investing in micro-cap and growth securities is speculative and entails a high degree of risk, potentially leading to a total or substantial loss of investment. Please note that no content published here constitutes a recommendation to buy or sell a security. It is solely informational, and you should not construe it as legal, tax, investment, financial, or other advice. No content in this article constitutes an offer or solicitation by InvestorBrandMedia.com or any third-party service provider to buy or sell securities or other financial instruments. The content in this article does not address the circumstances of any specific individual or entity and does not constitute professional and/or financial advice. InvestorBrandMedia.com is not a fiduciary by virtue of any person’s use of or access to this content. We do not own any shares of GWAV.

Sources:

 

https://www.reuters.com/markets/commodities/record-copper-prices-likely-pause-us-scrap-shipments-china-2024-06-17/

 

https://finance.yahoo.com/news/copper-hits-record-above-11-025107183.html

 

https://finance.yahoo.com/news/greenwave-technology-solutions-downstream-processing-110700435.html

https://credendo.com/en/knowledge-hub/copper-sector-record-breaking-copper-prices-amid-speculations-supply-shortages

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