Scrap metal prices in Australia have seen significant fluctuations over the past few years. With the global economy in a state of flux, gold, silver, copper, steel, and other metals have seen significant gains and losses. As of this writing, the prices of scrap metal are trending upwards, but what exactly are the latest prices in Australia? In this comprehensive guide, we will delve into the latest prices for various metals, their various uses, and explore what affects current market trends.
Gold – The price of gold has risen in the last few years, making it one of the more valuable scrap metals in Australia. The average price of gold per kilogram is roughly $61.03 AUD or $44 USD. Gold is used in a variety of ways, from jewellery and currency to electronics and aerospace technology. This past year, gold prices have surged in the wake of the COVID-19 outbreak, which has led to economic instability.
Copper – Copper is another valuable scrap metal found in abundance in Australia. The average price of copper per kilogram is roughly $7.60 AUD or $5.49 USD. Copper is primarily used in electrical wiring and construction due to its conductivity and malleability. As copper is widely used in the construction industry, the demand for it tends to fluctuate in accordance with the overall health of the construction industry.
Steel – Steel is another popular metal in Australia with a wide range of applications, from buildings and bridges to transportation and furniture. The price of steel can vary widely, with an average of roughly $0.54 AUD or $0.39 USD per kilogram. However, steel prices have been known to fluctuate dramatically due to changes in the global economy and trade disputes.
Aluminium – Aluminum is a lightweight metal that is highly resistant to corrosion, making it an excellent choice for a variety of uses, from aircraft to packaging and electronics. The average price of aluminium per kilogram is roughly $1.42 AUD or $1.03 USD. In Australia, the demand for aluminium is high, given the country’s strong relationship with the aviation industry.
Silver – Silver is a precious metal that has gained increasing popularity in recent years as a store of value and as a component for electronics and renewable energy technology. The average price of silver per kilogram is roughly $1,130 AUD or $817 USD. As with gold, the price of silver can be influenced by global economic factors, and it is, therefore, subject to fluctuations.
Conclusion
It is crucial to stay up-to-date with the latest scrap metal prices in Australia, especially if you work in industries that rely on this resource. The fluctuating global market, trade disputes, and the COVID-19 pandemic have all had an impact on the prices of various metals. While current trends indicate that the prices of scrap metals are trending upwards, these prices are still subject to change based on global factors. Therefore, it is vital to keep a close eye on the market when it comes to determining the best time to buy or sell scrap metal in Australia.