Copper Scrap Prices: Weekly Market Report- 12th April, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (5^th to 11^th, April, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded increase, except for Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe.

The biggest surge in prices over the prior week was witnessed in Xmas Lights, whose prices edged higher from $0.23 per Lb to $0.24 per Lb. The other copper scrap varieties to record notable increase in prices include Alternator and Sealed Units, which recorded substantial price surge by 2.94% each over the previous week.

The weekly price movement for Xmas Lights is shown in the below graph:

Meantime, the prices of #1 Insulated Copper Wire 85% Recovery, Romex Wire, #2 Insulated Copper Wire 50% Recovery and Harness Wire 35% Recovery recorded minimal increase during the week ended 11^th April, 2024, when matched with the week before.

USA East Coast Prices

The prices of all copper scrap categories, except a few, witnessed remarkable surge in the region. Xmas Lights prices posted the biggest increase over the week, recording surge from $0.23 per Lb to $0.24 per Lb.

Alternator and Sealed Units prices were up by 2.94% each over the previous week.

The variation in prices over the week for Alternator is given in the below chart:

A modest surge in prices by 2.86% and 2.63% was seen in Starters and Copper Transformer Scrap respectively over the week.

The other scrap copper category that recorded noteworthy increase in prices was Scrap Electric Motors, whose prices edged higher by 2.56% week-on-week from $0.39 per Lb to $0.40 per Lb.

Meantime, Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe prices witnessed no change in comparison with the prior week.

USA Midwest Prices

The copper scrap prices in the region mostly recorded increase. Only three scrap varieties- Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe maintained steady prices.

The biggest increase of 4.55% in prices over the prior week was witnessed in Xmas Lights, whose prices edged higher from $0.22 per Lb to $0.23 per Lb. The other copper scrap varieties to record notable increase in prices include Sealed Units and Starters, which recorded substantial price increase by 3.03% and 2.94% respectively.

Meantime, the prices of #1 Insulated Copper Wire 85% Recovery, Romex Wire and #2 Insulated Copper Wire 50% Recovery recorded lowest increase in prices, when matched with the week before.

USA West Coast Prices

The copper scrap metal prices in the region witnessed noticeable increase week-on-week.

The scrap categories to record biggest increase in prices from the previous week were Xmas Lights, Alternator and Sealed Units.

Also, Starters, Scrap Electric Motors, Copper Transformer Scrap, Cu Yokes, Heater Cores, #3 Copper- Light Copper, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright recorded modest positive price variation during the week.

Also, marginal increase in prices were reported in #1 Insulated Copper Wire 85% Recovery, Romex Wire, Harness Wire 35% Recovery and #2 Insulated Copper Wire 50% Recovery 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 by 3.02%, rising from CNY 67,800 per MT to CNY 69,850 per MT each. 

#1 Copper Wire and Tubing reported increase in prices by CNY 2,050 per MT, from CNY 68,800 per MT during the start of the week to end at $70,850 per MT. 

Harness Wire 35% Recovery reported least increase in prices over the previous week. The prices of the commodity surged higher by 0.87% week-on-week.

The weekly price chart of Harness Wire 35% Recovery is provided below:

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 sharply by INR 20,000 per ton over the previous week to close at INR 487,000 per ton on 11^th April, 2024 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 11^th April, 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 Copper Tube:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,375 per tonne as on 11^th April, 2024. The LME Copper Cash Settlement contract prices declined modestly from $9,365.00 a day before to $9,240.50 per tonne.

The LME Copper stocks saw modest increase over the previous day to close at 124,850 tonnes on 11^th April, 2024, as compared with 123,475 tonnes on 10^th April, 2024.

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