Copper Scrap Prices: Weekly Market Report- 1st December, 2023
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,420.00 per tonne as on 30th November, 2023.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (24th to 30th November, 2023) on the Scrap Monster Price Index.
North America Prices
The copper scrap prices in the region recorded mixed trend, when matched with the week before that. The prices of majority of the commodities recorded surge, while the remaining maintained prior week’s price levels.
The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.39 per Lb to $3.44 per Lb. The other copper scrap varieties to record significant surge in prices include #2 Copper Wire and Tubing as well as #1 Copper Wire and Tubing, which recorded price increases by 1.43% and 1.39% respectively.
The weekly price movement for #3 Copper- Light Copper is shown in the below chart:
Meantime, the prices of Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Starters, Sealed Units, Scrap Electric Motors and Xmas Lights recorded no change on Index.
USA East Coast Prices
The prices of certain copper scrap categories witnessed marginal surge in the region. #3 Copper- Light Copper prices posted the biggest increase over the week.
The prices of #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright too increased modestly over the week.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
A slight increase in price was witnessed in Romex Wire, Copper Radiators, #1 Insulated Copper Wire 85% Recovery and #2 Insulated Copper Wire 50% Recovery.
Meantime, Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Starters, Sealed Units, Scrap Electric Motors and Xmas Lights prices held steady over the week.
USA Midwest Prices
The prices of majority of copper scrap prices commodities in the region increased over the previous week.
The top three gainers were #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.
The #3 Copper- Light Copper prices ended the week at $3.42 per Lb, up from the previous week price of $3.37 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.52 per Lb and $3.62 per Lb respectively.
The prices of #1 Copper Bare Bright, Heater Cores, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Copper Radiators and Romex Wire too witnessed surge on Index.
USA West Coast Prices
The copper scrap metal prices in the region witnessed mixed trend week-on-week.
The scrap categories to record notable surge in prices from the previous week were #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.
#3 Copper- Light Copper prices edged higher by 1.44% week-on-week. The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing were up by 1.40% and 1.36% respectively.
All other scrap categories, excluding Cu/Al Radiators/Fe, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Alternator and Xmas Lights edged higher over the prior week.
China Prices
The copper scrap prices recorded mixed trend over the previous week.
Three scrap categories- #1 Copper Bare Bright, #1 Copper Wire and Tubing and #2 Copper Wire and Tubing recorded surge.
A few categories such as Cu Yokes, Harness Wire 35% Recovery, Heater Cores, Scrap Electric Motors and Sealed Units witnessed no change, when compared with the week before.
All the other commodities reported weekly decline.
The weekly price chart of #1 Insulated Copper Wire 85% Recover, which recorded the highest dip in prices by 0.45% week-on-week is provided below. The prices of the commodity edged lower from CNY 33,350 per MT to CNY 33,200 per MT during the week ended 30th November, 2023.
India Prices
The scrap commodities in Indian market recorded increase, upon comparison with the prior week.
The copper sheet cutting scrap prices recorded largest increase, rising from INR 380,000 per Ton to INR 381,000 per Ton during the week. The weekly chart depicting the price movement in the commodity is provided below:
The prices of copper armature, copper heavy scrap and copper cable scrap too edged higher on the Scrap Monster Index.
The prices of Copper utensil scrap and Copper wire bars (HCL *) too were up during the week ended November 30th, 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 display the weekly price movement in Braziery Copper:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,420.00 per tonne as on 30th November, 2023. The LME Copper Cash Settlement contract prices edged lower modestly from $8,384.00 a day before to $8,332.00 per tonne.
The LME Copper stocks saw marginal increase over the previous day to close at 175,250 tonnes on 30th November, 2023, as compared with 174,950 tonnes on 29th November, 2023.