Apparently, quite a bit, at least in Detroit.
The price of copper has risen 56 percent this year, probably due in large part to construction demand in China. The high price of copper has led to an increase in people breaking into construction sites and even homes to steal copper pipes.
In Detroit, someone stole the copper pipes from the famous old Kronk Gym, where Thomas Hearns and many, many others have trained. The cost of replacing the pipes and fixing the plumbing was so great that the gym has been shut down, probably for good.
There is, however, a bright side to the high cost of scrap metal. Someone in the recycling business told me recently that backyards all over New England are looking better than they’ve looked in years — because all the rusty old farm equipment has been gathered up and sold for scrap.
So if you’re a New England leaf-peeper, you have reason to be happy about the Chinese appetite for construction metals. If you’re a fan of Detroit boxing, however, you may not be so happy. But at least you can be thankful that you’re not in charge of the budget for the 2012 Olympics in London. Thanks in large part to higher steel prices, the cost of the games has recently increased by roughly 40 percent.
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This may be off subject of your post but I think us capitalists finally have the environmentalists right where we want them. Because of the high price of scrap metal there is financial incentive to recycle. It’s just another example that the embracing capitalism is the best way to solve the world’s many environmental problems.
This may be off subject of your post but I think us capitalists finally have the environmentalists right where we want them. Because of the high price of scrap metal there is financial incentive to recycle. It’s just another example that the embracing capitalism is the best way to solve the world’s many environmental problems.
Fever, Your comment is right on message.
Perhaps the question should be what do environmentalists and Columbian drug lords have in common?
(ANSWER: In their efforts to restrict product to a ready and willing markets, they have induced a crime wave)
Fever, Your comment is right on message.
Perhaps the question should be what do environmentalists and Columbian drug lords have in common?
(ANSWER: In their efforts to restrict product to a ready and willing markets, they have induced a crime wave)
The organizers of the 2012 Olympics in London should be relieved that the 4th place finisher doesn’t get a Copper Medal!
The organizers of the 2012 Olympics in London should be relieved that the 4th place finisher doesn’t get a Copper Medal!
I believe Copper is good for Africa, since much of world’s production is there and Chinese are throwing fresh money in to keep their growth rate.
I believe Copper is good for Africa, since much of world’s production is there and Chinese are throwing fresh money in to keep their growth rate.