Copper use will fall with switch to aluminum
Jun 13, 2013 | 03:54 PM
| Everdeen Mason
NEW YORK Copper consumption will decline going forward as the price differential between the red metal and aluminum continues to encourage substitution, according to Jim Vann, Rea Magnet Wire Co. president and the Copper Clubs Copper Man of the Year.
In the 31 years Vann has been president of the Fort Wayne, Ind.-based company, one of the biggest changes has been the gradual increase in the production of aluminum magnet wire, he told AMM. "One of our motor wire plants used to run about 10 percent aluminum wire. Now it runs about 40 percent."
Vann attributed the change to copper prices increasing an average of 8.5 percent annually since the 1980s while aluminum prices have remained low. The July Comex copper contract closed at $3.185 per pound June 13, while the cash aluminum price on the London Metal Exchange ended the official session at $1,813 per tonne (82.2 cents per pound).....
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