NEWS & INSIGHTS
Why Copper At Romco?
We added copper into our lines in April this year and we’ve been impressed with the results. Now we’re sharing why it’s been a good fit for us:
1. Two Is Better Than One.
Copper is our number 2, meaning we have successfully diversified for the first time. That’s big news; Before copper, Romco was exclusively an aluminium recycler. Copper has demonstrated our ability innovate to the level of our ambition, representing the first steps of our journey as a flexible and agile player in the market. Importantly, It’s paving the way for more metals like Lead and Zinc.
2. Strong Harbour Commodity
Market fluctuation has been accentuated in 2020 through the COVID-19 crisis. Never in recent history has diversification been more important to shield profitability from unpredictability. Given its immense versatility and demand, and the way we can hedge our copper sales on price, copper does just that. During disruptions to feedstock supply, transport, resources, demand, and price, copper differentiation helped us weather what could’ve been a mighty storm.
3. Larger Feedstock Pastures
In our effort to produce Copper, we’ve extended our feedstock and metal merchant network reach; securing overall better terms and improving our consistent supply across all lines.
4. More Numbers In The Rolla Deck
Copper is a versatile product, that means more buyers. We owe copper the credit for new trade links, strengthened partnerships, and exciting new contracts with global players. There are some exciting announcements to come in this space soon.
Copper has traded at significantly higher prices than aluminium (Cu at £7238, and Al at £1970 on 18:00 GMT, according to LME). On secured margins, based on hedging, this represents greater profit potential for the Romco Group, and has helped us achieve record numbers this year.
Copper is Versatile, Valuable, and Anti-Viral.
Our copper expansion has illustrated why ambition and focus on growth is vital for our business; It’s why we’ve written ‘grow’ in our motto. 2021 has more metals expansions in store and we look forward to the benefits and opportunities those developments bring.
In the spirit of celebration here are some lesser known copper facts you may not have known:
Coins aren’t made of pure copper any more.
Before 1992, the ‘Copper’ 1p and 2p coins were 97% copper, and traditionally made from a bronze alloy of copper, tin and zinc. However, since September 1992 they have been made from copper-plated steel. Why? Price. in 2006 the price of copper was so high that the scrap metal value of one copper coin was 1.5p.
Can I melt down pennies and sell the copper?
In the US It is illegal to melt pennies and sell the raw metal. One cent coins made after 1982 consisted of 97.5% zinc and 2.5% copper. … In an effort to thwart a melt off of pennies in 1982, the United States Mint made half of the pennies out of solid copper and the other half out of copper plated zinc.
What would happen if there was no copper?
Without it, most things (including yourself) would die. According to the Health Research Institute and Pfeiffer Treatment Center, it is essential to all plant, animal and human life, helping to regulate and facilitate key bodily functions like maintaining a healthy heart and liver, bone growth and strength, the development and performance of the human nervous, cardiovascular, immune, reproductive and genetic systems. Without it, most things (including yourself) would die.
Copper deficiencies also lead to mood swings, feelings of irritability and anger, as well as stress, memory loss and depression.
Are we going to run out of copper?
It is highly improbable. Historically (USGS data), there has always been, on average, 40 years of reserves and 200 years of resources left since 1950.
Some Interesting Copper Stats:
- All gold contains some level of copper, even 24 karat gold. This is because gold is so soft, it can be molded with the hands and calls for a bit of copper to be added.
- Copper tools will not cause sparks, making them the tools of choice when working around explosives.
- Copper has been used for as long as we can remember. The Egyptians had the ankh symbol to represent copper, and pyramids in Egypt used copper for water plumbing.
- Copper is naturally antibacterial. Brass doorknobs, handrails and fingerplates are excellent choices for public buildings and will prevent the spread of bacteria.
- The average person will use 1500 pounds of copper just to enjoy today’s standard of living. (Think computers, telephones, automobiles, etc.)
- The average home contains two average adult males (400 pounds) worth of copper, used for electrical wiring, pipes and appliances.
- Bronze is copper and tin alloyed.
- Brass is copper and zinc alloyed.
- Although the Dead Sea Scrolls have been known to be made with rare animal skins, one that was recovered contains copper.
Source: European Copper Institute