Typically, scrap yards will purchase copper in a few broad categories, each of which may have several subcategories. Copper solids will be things like copper pipe, bars, and fittings, and also includes stripped down and totally bare, clean copper wire. We also purchase insulated copper wires, meaning copper that still has the plastic coating on it– think things like the wires inside your walls or an extension cord.

The value of scrap is impacted primarily by the recovery rate. With something like bare bright copper wire (that’s that totally clean, bare copper wire that’s shiny like a new penny), the recovery rate is 100%-- it’s just copper. With other coppers, the recovery rate will be lower– this is the case with a tin-coated copper wire, or with copper that still has its insulation. In the case of insulated wire, we’re looking at two main factors: the percentage of the wire’s weight that comes from copper vs. insulation, and the grade of copper that is contained in the wire (#1 or #2 copper). 

To determine the recovery percentage of your insulated copper wire, we’re happy to perform a “strip test.” We weigh a sample of your wire, then remove all of the insulation and weigh the clean copper. The weight of the clean copper is then divided by the weight of the insulated sample, giving us the percentage of recoverable copper. With many types of insulated wire, a strip test isn’t necessary, since recovery rates tend to be consistent across the board; for example, Romex wire (that’s what you might find inside the walls of your home) will consistently yield a 65% recovery rate and is a #1 wire (the copper inside the insulation is bare copper with no alloying metal like tin). On the other hand, something like an extension cord or the power cord cut off an appliance will be a 40% number 2 wire– only about 40% of the weight of these wires comes from copper, and the other 60% is from the insulation, and once stripped, the copper inside is extremely fine gauge and / or coated, meaning it’s a #2 copper. 

So how does a healthy copper market impact the payouts you’ll receive at the scrap yard? We watch the markets daily. You may have noticed that our “Market Price” tab takes you directly to the Kitco website. We use the Comex spot price to determine how much we can pay for totally clean, 100% copper; from there, we will utilize formulas to calculate the amount we can pay for coated and insulated coppers, which as just discussed, have a lower recovery rate– also taking into account the processing fees associated with stripping the wire. 

We’ve raised copper prices again this week to reflect the strong market. And we’ll continue to keep an eye on the Comex, ensuring we’re paying you a consistent and fair price for your scrap. Have more questions about scrap copper? We’re happy to help! Drop by our recycling center at 110 N. Sylvan Ave. in Columbus, Ohio. Or email us at info@researchalloys.com, or call (614) 224-4404.