Copper Scrap Prices: Weekly Market Report- 14th June, 2024
Market Reports | 2024-06-14 13:23:08
Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,860.00 per tonne as on 13th June, 2024.
By Paul Ploumis
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (7th to 13th June, 2024) 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 maintained prior week’s price levels, while the remaining recorded decline.
The biggest decline in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $4.05 per Lb to $4.04 per Lb. The other copper scrap varieties to record significant decline in prices include #2 Copper Wire and Tubing as well as #1 Copper Wire and Tubing, which recorded price declines by 0.24% each.
The weekly price movement for #3 Copper- Light Copper is shown in the below chart:
The prices of #1 Copper Bare Bright too recorded decline.
All other scrap copper categories recorded no change in prices over the previous week.
USA East Coast Prices
The prices of certain copper scrap categories witnessed modest dip in the region. #3 Copper- Light Copper prices posted the biggest fall over the week.
The prices of #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright too recorded modest decline over the week.
The weekly price chart of #1 Copper Bare Bright, which reported least decline in prices week-on-week, is provided below:
#1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Cu/Al Radiators and Alternator scrap maintained previous week’s price levels..
Also, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters, and Xmas Lights too held steady over the week.
USA Midwest Prices
The prices of majority of copper scrap prices commodities in the region recorded no change over the previous week.
The top three losers 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 $4.02 per Lb, down from the previous week price of $4.03 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices dipped over the previous week to close at $4.12 per Lb and $4.22 per Lb respectively.
The prices of #1 Copper Bare Bright too recorded modest decline on Index.
All other commodities’ prices held steady 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 decline in prices from the previous week were #3 Copper- Light Copper, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright.
#1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Cu/Al Radiators and Alternator scrap prices were unchanged when compared with the previous week.
Also, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters, and Xmas Lights too were flat over the week.
China Prices
All copper scrap categories witnessed weekly price declines.
#2 Copper Wire and Tubing recorded the biggest dip in prices during the previous week. The prices dropped from CNY 75,200 per MT to CNY 73,600 per MT over the week. The weekly price chart of #2 Copper Wire and Tubing is provided below:
#1 Copper Wire and Tubing reported dip in prices by CNY 1,600 per MT, falling from CNY 76,200 per MT during the start of the week to end at $74,600 per MT.
#1 Copper Bare Bright and #1 Insulated Copper Wire 85% Recovery too reported drop in prices by 2.0% and 2.03% respectively over the week.
Harness Wire 35% Recovery and Cu Yokes prices recorded the least decline. The prices of both the commodities fell by 0.57% each week-on-week.
India Prices
The scrap commodities in Indian market recorded decline, upon comparison with the prior week.
The copper sheet cutting scrap prices recorded largest dip, falling from INR 534,000 per Ton to INR 532,000 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 lower on the Scrap Monster Index.
The prices of Copper utensil scrap and Copper wire bars (HCL *) too were down during the week ended June 13th, 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 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 9,860.00 per tonne as on 13th June, 2024. The LME Copper Cash Settlement contract prices edged higher modestly from $9,697.50 a day before to $9,733.00 per tonne.
The LME Copper stocks saw marginal increase over the previous day to close at 132,075 tonnes on 13th June, 2024, as compared with 127,425 tonnes on 12th June, 2024.
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