Scrap Copper Prices: Weekly Market Report- 21st June, 2024
The LME Copper Cash Settlement contract prices declined modestly from $9,752.00 a day before to $9,648.00 per tonne.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (14th to 20th June, 2024) on the Scrap Monster Price Index.
North America Prices
The copper scrap prices in the region mostly remained unchanged. A few scrap categories recorded surge over the prior week. Also, some witnessed decline over the previous week.
The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices inched higher from $4.06 per Lb to $4.14 per Lb.
The weekly price movement in #3 Copper- Light Copper is shown in the below graph:
The other copper scrap varieties to record notable increase in prices include #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #1 Insulated Copper Wire 85% Recovery, Copper Radiators, Romex Wire, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery and Heater Cores.
The prices of Cu/Al Radiators and Cu/Al Radiators/Fe recorded decline over the week.
Meantime, all other scrap copper categories witnessed no change in prices over the week.
USA East Coast Prices
The prices of most copper scrap categories witnessed increase upon comparison with the prior week.
#3 Copper- Light Copper prices recorded the biggest surge, rising from $4.06 per Lb to $4.14 per Lb over the week. Also, notable increase was seen in #2 Copper Wire and Tubing, whose prices were up by 1.92% week-on-week.
The below graph depicts the price movement in #2 Copper Wire and Tubing over the previous week:
Alternator, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights were flat on Index.
A few categories posted decline in the region. Cu/Al Radiators/Fe prices posted the biggest dip over the week, recording decline of 1.34% from $1.49 per Lb to $1.47 per Lb. Cu/Al Radiators too were down over the prior week.
USA Midwest Prices
The copper scrap prices in the region recorded mixed trend.
The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $4.06 per Lb to $4.14 per Lb. The prices of the commodity were up by 1.98% week-on-week. Also, #2 Copper Wire and Tubing prices edged higher by 1.93% on Index during the week ended 20th June, 2024.
The scrap copper categories to post weekly dip in prices were Cu/Al Radiators and Cu/Al Radiators/Fe.
USA West Coast Prices
The prices of most of the copper scrap metal varieties in the region witnessed surge over the week.
The top three gainers were #2 Copper Wire and Tubing, #3 Copper- Light Copper, and #1 Copper Wire and Tubing
Alternator, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights scrap prices were flat on Index.
Only two categories- Cu/Al Radiators and Cu/Al Radiators/Fe witnessed price decline over the week.
China Prices
The prices of copper scrap categories witnessed mixed trend over the week.
Copper Transformer Scrap prices declined the most. The prices of the commodity recorded weekly decline by 0.41%, falling from CNY 12,250 per MT to CNY 12,200 per MT during the previous week.
The weekly price chart of Copper Transformer Scrap is provided below:
The other prominent losers over the previous week were Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Cu Yokes and Harness Wire 35% Recovery.
The prices of Scrap Electric Motors and Sealed Units were flat on Index.
Meantime, all other categories of copper scrap recorded marginal increase over the previous week.
India Prices
The scrap commodities in Indian market saw their prices increase over the prior week.
The copper sheet cutting prices recorded largest surge, recording increase by 0.19% over the week. The prices of the commodity soared from INR 524,000 per Ton to INR 525,000 per Ton. The weekly chart of the commodity is provided below:
The prices of Copper armeture, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars too registered week-on-week surge during the week ended 20th June, 2024.
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 #1 Insulated Copper Wire 85% Recovery:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,790.00 per tonne as on 20th June, 2024. The LME Copper Cash Settlement contract prices declined modestly from $9,752.00 a day before to $9,648.00 per tonne. LME Copper stocks saw marginal increase over the day, rising from levels of 158,700 tonnes a day before to 161,925 tonnes as on 20th June, 2024.