Copper Scrap Prices: Weekly Market Report- 16th August, 2024
August 16, 2024 05:30:17 PM
The LME Copper Cash Settlement contract prices increased modestly from $8,906.00 a day before to $9,009.00 per tonne.
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 (9th to 15th, August, 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 $0.22 per Lb to $0.24 per Lb. The other copper scrap varieties to record notable increase in prices include Sealed Units and Starters, which recorded substantial price surge by 5.71% and 5.56% respectively 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, Heater Cores, #1 Copper Bare Bright and #2 Insulated Copper Wire 50% Recovery recorded minimal increase during the week ended 15th August, 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 $0.22 per Lb to $0.24 per Lb.
Sealed Units and Starters prices were up by 5.71% and 5.56% respectively over the previous week.
The variation in prices over the week for Sealed Units is given in the below chart:
A modest surge in prices by 5.41% and 5.0% was seen in Alternator 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 4.76% week-on-week from $0.42 per Lb to $0.44 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 $0.21 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 5.88% and 5.71% respectively.
Meantime, the prices of #1 Insulated Copper Wire 85% Recovery, Romex Wire and Heater Cores 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, Sealed Units and Starters.
Also, 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 2.06%, rising from CNY 65,550 per MT to CNY 66,690 per MT each.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
#1 Copper Wire and Tubing reported increase in prices by CNY 1,350 per MT, from CNY 66,650 per MT during the start of the week to end at $67,900 per MT.
Cu Yokes and Harness Wire 35% Recovery reported least increase in prices over the previous week. The prices of these commodities surged higher by 0.59% week-on-week.
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 modestly by INR 2,000 per ton over the previous week to close at INR 453,000 per ton on 15th August, 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 15th August, 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 Copper Bare Bright:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,104 per tonne as on 15th August, 2024. The LME Copper Cash Settlement contract prices increased modestly from $8,906.00 a day before to $9,009.00 per tonne.
The LME Copper stocks saw nominal increase over the previous day to close at 307,450 tonnes on 15th August, 2024, as compared with 307,425 tonnes on 14th August, 2024.
