HOBI Weekly Blog Recap (9/18-9/21)
During the past few years, there have been shortages of numerous items, including energy, lumber, lithium, helium, and even water. Most recently, a new shortage has been identified–a copper deficit. Copper has been and always will be in high demand, but recently, a material used for numerous years is experiencing a shortage and isn’t readily available. Copper is the world’s third most universally used material for its mechanical, chemical, and electrical properties.
There are many reasons why there is a copper shortage and why the demand has grown significantly and is expected to grow even more in the coming years. During the past several years, electric vehicles have increased in popularity and will continue to do so. Electric vehicles are known to use substantially more copper than internal combustion engines, along with the additional push for increased electrification, including consumer rages, EV charging stations, high-voltage transmission lines, and renewable energy like wind farms.
Though copper production has increased during the last 30 years, acquiring more copper is challenging, especially since it can only be obtained where ore is available.
Finding a new location for mining copper ore is demanding. Not only does it need to be discovered, but also evaluated for its value and quality. Chile produces more than one-third of the world’s copper, followed by Peru, the Democratic Republic of Congo, China, the United States, Austria, Indonesia, Zambia, Canada, and Poland. The ore at these locations has been exhausted and used up, diminishing the quality. Obtaining copper from its ore is more costly and activating a copper mine takes at least ten years and billions of dollars. Recycling copper is partially the answer to closing the copper shortage gap, but the availability of copper for recycling is short in supply. The recycling process of copper is also extremely costly and very complex.
The demand for copper likely isn’t slowing down anytime soon, and the shortage of copper will worsen in the upcoming years. This will cause a rise in material prices of common components in products extending from electronics to pipes. Fortunately, companies such as HOBI focus on maximizing the return value of retired IT assets and ensuring they are disposed of properly.
HOBI offers services such as repair, refurbishment, remarketing, resale, and recycling, which not only help protect the environment but also provide used devices to those who may not have access to technology. HOBI prioritizes waste prevention by recovering and reusing products and recycling those that are no longer repairable or remarketable.
For more information about our ITAD services, call 817-814-2620 or contact HOBI at sales@hobi.com.
Related posts
