Copper Scrap Prices: Weekly Market Report- September 6th, 2024
The LME Copper Cash Settlement contract edged higher marginally from $8,830.50 a day before to $8,915.00 per tonne.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (August 30th to September 5th, 2024) on the Scrap Monster Price Index.
North America Prices
The copper scrap prices in the region displayed mixed trend.
Sealed Units saw the largest price decrease over the previous week, going down from $0.38 per pound to $0.37 per pound.
The other copper scrap varieties to record notable decline in prices include Starters and Alternator, which recorded price declines by 2.56% and 2.44% respectively.
The weekly price movement for Sealed Units is shown in the below graph:
The prices of Xmas Lights, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu/Al Radiators, Romex Wire, Heater Cores, Harness Wire 35% Recovery, Copper Radiators, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery witnessed no change on the Scrap Monster Index.
USA East Coast Prices
The majority of copper scrap categories saw a decrease in price in the region. Sealed Units prices recorded biggest drop over the week, recording a decline from $0.38 per Lb to $0.37 per Lb. A modest dip of 2.56% and 2.44% was seen in Starters and Alternators respectively over the week.
The below chart displays the variation in prices of Alternator over the previous week:
The other scrap copper categories that recorded nominal decline in prices included Copper Transformer Scrap, Cu Yokes, Scrap Electric Motors, #1 Copper Bare Bright , #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, and #3 Copper- Light Copper.
Meanwhile, all other scrap varieties held steady over the week.
USA Midwest Prices
The copper scrap prices in the region mostly edged lower over the previous week. The top three losers were Sealed Units, Starters and Alternators.
The Sealed Units prices ended the week at $0.36 per Lb, down from the previous week’s price of $0.37 per Lb. Also, Starters and Alternators prices declined over the previous week to close at $0.37 per Lb and $0.39 per Lb respectively.
Cu Yokes posted the least decline over the week.
Meantime, Xmas Lights, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu/Al Radiators, Romex Wire, Heater Cores, Harness Wire 35% Recovery, Copper Radiators, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery witnessed no change on Index.
USA West Coast Prices
The copper scrap metal prices in the region was a mixed bag, with prices of most categories registering week-on-week decline. However a few copper scrap categories recorded stable prices.
The scrap category to fall the most was Sealed Units, whose prices recorded decline from $0.38 per Lb at the start of the week to $0.37 per Lb towards the end of the week. It was followed by Starters and Alternators, which recorded price declines by 2.56% and 2.38% respectively.
Meantime, the prices of Xmas Lights, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu/Al Radiators, Romex Wire, Heater Cores, Harness Wire 35% Recovery, Copper Radiators, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery remained unchanged on Index.
China Prices
Every category of copper scrap saw a weekly price decrease as compared to the previous week.
#1 Copper Bare Bright recorded the sharpest decline during the previous week. The price of the commodity registered 3.49% fall week-on-week, declining from CNY 73,150 per MT to CNY 70,600 per MT.
The weekly price chart of #1 Copper Bare Bright is provided below:
The #2 Copper Wire and Tubing prices edged lower from CNY 68,150 per MT to CNY 65,900 per MT each.
#1 Copper Wire and Tubing reported decline in prices by CNY 2,250 per MT, from CNY 69,150 per MT during the start of the week to end the week at $66,900 per MT.
Harness Wire 35% Recovery recorded the least decline in prices over the week. The price of the commody inched lower by 0.87% over the week.
India Prices
The scrap commodities in Indian market recorded decline from previous week's price levels.
The copper sheet cutting prices dropped by INR 17,000 per Ton to INR 455,000 per Ton over the prior week. The weekly chart of the commodity is provided below:
The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap, and Copper wire bars (HCL*) too witnessed marginal decline during the week ending September 5th, 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 were steady during the course of the week.
The chart provided below depicts the weekly price change in #1 Insulated Copper Wire 85% Recovery:
LME Copper Market Update
The closing price of LME Copper 3-Month contract stood at USD 9,034.50 per tonne as of September 5th, 2024. The LME Copper Cash Settlement contract edged higher marginally from $8,830.50 a day before to $8,915.00 per tonne.
The LME Copper stocks declined marginally over the previous day to close at 317,175 tonnes as of September 5th, 2024, as compared with 318,650 tonnes a day before.