Scrap Copper Prices: Weekly Market Report- 24th Feb, 2023
The LME Copper Cash Settlement contract prices declined from $9,121.00 a day before to $9,060.00 per tonne.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (16th February, 2023 to 23rd February, 2023) on the Scrap Monster Price Index.
North America Prices
The copper scrap prices in the region recorded decline across the board.
The biggest dip in prices over the prior week was witnessed in Xmas Lights, whose prices edged lower from $0.23 per Lb to $0.22 per Lb. The other copper scrap varieties to record notable decline in prices include Sealed Units and Starters, which recorded substantial price falls by 2.94% and 2.86% respectively.
The weekly price movement for Xmas Lights is shown in the below graph:
Meantime, the prices of Heater Cores, #1 Insulated Copper Wire 85% Recovery and Romex Wire recorded minimal decline in prices, when matched with the week before.
USA East Coast Prices
The prices of all copper scrap categories witnessed remarkable decline in the region. Xmas Lights prices posted the biggest dip over the week, recording decline from $0.23 per Lb to $0.22 per Lb.
Sealed Units prices were down by 2.94% over the week, falling from $0.34 per Lb to $0.33 per Lb.
The variation in prices over the week for Sealed Units is given in the below chart:
A modest decline by 2.86% and 2.76% was seen in Starters Alternators respectively over the week.
The other scrap copper categories that recorded noteworthy decline in prices included Scrap Electric Motors and Copper Transformer Scrap, whose prices dipped by 2.56% and 2.44% respectively.
The prices of Heater Cores, #1 Insulated Copper Wire 85% Recovery and Romex Wire registered nominal decline on Index.
USA Midwest Prices
The copper scrap prices in the region recorded decline across the board.
The biggest dip of 4.55% in prices over the prior week was witnessed in Xmas Lights, whose prices edged lower from $0.22 per Lb to $0.21 per Lb. The other copper scrap varieties to record notable decline in prices include Sealed Units and Starters, which recorded substantial price falls by 3.03% and 2.94% respectively.
Meantime, the prices of Heater Cores, #1 Insulated Copper Wire 85% Recovery and Romex Wire recorded lowest decline in prices, when matched with the week before.
USA West Coast Prices
The copper scrap metal prices in the region witnessed noticeable decline week-on-week.
The scrap categories to record biggest dip in prices from the previous week were Xmas Lights, Sealed Units and Starters.
Also, Cu Yokes, Heater Cores, Alternator, #1 Insulated Copper Wire 85% Recovery, Scrap Electric Motors, Copper Transformer Scrap, Cu/Al Radiator Ends, #2 Insulated Copper Wire 50% Recovery, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Cu/Al Radiators, #3 Copper- Light Copper, #1 Copper Wire and Tubing and #1 Copper Bare Bright recorded modest negative price variation during the week.
Meantime, marginal dip in prices were reported in Copper Radiators, Romex Wire, #1 Insulated Copper Wire 85% Recovery, Heater Cores and #2 Copper Wire and Tubing week-over-week.
China Prices
All copper scrap categories witnessed weekly price increase.
#2 Copper Wire and Tubing and #1 Copper Wire and Tubing recorded biggest surge in prices during the previous week.
The #2 Copper Wire and Tubing prices edged higher from CNY 63,500 per MT to CNY 64,850 per MT each.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
#1 Copper Wire and Tubing reported surge in prices by CNY 1,350 per MT, from CNY 64,500 per MT during the start of the week to end at $65,850 per MT.
#1 Insulated Copper Wire 85% Recovery too reported 2.05% surge in prices over the week.
India Prices
The scrap commodities in Indian market saw their prices edge higher over the prior week.
The copper sheet cutting scrap prices were up by INR 6,000 per ton over the previous week to close at INR 452,000 per ton on 23rd February, 2023 on the Scrap Monster Index. The weekly chart of the commodity is provided below:
The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars too increased during the week ended 23rd February, 2023.
Europe Prices
The prices of all copper scrap commodities such as #1 Copper Bare Bright, #1 Copper Wire and Tubing, #1 Insulated Copper Wire 85% Recovery, #2 Copper Wire and Tubing, Braziery Copper, Copper Dry Bright, Copper radiators and Copper Tubes held steady during the course of the week.
The chart given below depicts the weekly price movement in Copper Radiators:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,088.00 per tonne as on 23rd February, 2023. The LME Copper Cash Settlement contract prices declined from $9,121.00 a day before to $9,060.00 per tonne.
The LME Copper stocks saw slight reduction over the previous day to close at 65,000 tonnes on 23rd February, 2023, as compared with 65,425 tonnes on 22nd February, 2023.