Copper Scrap Prices: Weekly Market Report- 3rd May, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (26^th April to 2^nd May, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region mostly recorded decline.

The biggest dip in prices over the prior week was witnessed in Heater Cores, whose prices edged lower from $1.70 per Lb to $1.66 per Lb. The other copper scrap varieties to record notable decline in prices include #3 Copper- Light Copper and #2 Copper Wire and Tubing, which recorded substantial price falls by 1.44% and 1.41% respectively.

The weekly price movement for Heater Cores is shown in the below graph:

The #1 Copper Wire and Tubing and #1 Copper Bare Bright prices too recorded week-on-week decline by 1.38% and 1.35% respectively.

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiators/Fe, Copper Transformer Scrap and Cu/Al Radiator Ends surged higher over the week.

Alternator, Cu Yokes, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights recorded no change over the week.

USA East Coast Prices

The prices of most copper scrap categories witnessed remarkable decline in the region. Heater Cores prices posted the biggest dip over the week, recording decline of 2.35% from $1.70 per Lb to $1.66 per Lb.

#3 Copper- Light Copper and #2 Copper Wire and Tubing prices were down by 1.44% and 1.41% respectively over the week. #3 Copper- Light Copper prices dipped from $4.16 per Lb to $4.10 per Lb, while #2 Copper Wire and Tubing prices recorded decline from $4.26 per Lb to $4.20 per Lb over the week.

The other scrap copper categories that recorded noteworthy decline in prices included #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire50% Recovery, Harness Wire 35% Recovery, Romex Wire, Copper Radiators, #1 Copper Bare Bright and #1Copper Wire and Tubing.

Cu/Al Radiators, Cu/Al Radiators/Fe, Copper Transformer Scrap and Cu/Al Radiator Ends prices increased over the week. The biggest surge in prices were seen in Copper Transformer Scrap. The prices of the commodity were up by 2.38%.

The below graph depicts the price movement in Copper Transformer Scrap over the previous week:

USA Midwest Prices

The copper scrap prices in the region recorded mixed trend.

The biggest dip in prices over the prior week was witnessed in Heater Cores, whose prices edged lower from $1.70 per Lb to $1.66 per Lb. The other copper scrap varieties to record notable decline in prices include #3 Copper- Light Copper and #2 Copper Wire and Tubing, which recorded substantial price falls by 1.44% and 1.41% respectively.

Alternator, Cu Yokes, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights were a few categories that recorded no change over the week.

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiators/Fe, Copper Transformer Scrap and Cu/Al Radiator Ends recorded increase over the week.

USA West Coast Prices

The prices of most of the copper scrap metal varieties in the region witnessed noticeable decline week-on-week.

Heater Cores prices posted the biggest dip over the week, recording decline of 2.34% from $1.71 per Lb to $1.67 per Lb.

#3 Copper- Light Copper and #2 Copper Wire and Tubing prices were down by 1.42% and 1.38% respectively over the week. #3 Copper- Light Copper prices dipped from $4.24 per Lb to $4.18 per Lb, while #2 Copper Wire and Tubing prices recorded decline from $4.34 per Lb to $4.28 per Lb over the week.

Cu/Al Radiators, Cu/Al Radiators/Fe, Copper Transformer Scrap and Cu/Al Radiator Ends prices were up on Index.

 Alternator, Cu Yokes, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights prices were flat week-on-week.

China Prices

All copper scrap categories witnessed weekly price increase.

#2 Copper Wire and Tubing #1 Copper Wire and Tubing recorded the biggest surge in prices during the previous week.

The other prominent gainers over the previous week #1 Copper Bare Bright, #1 Insulatated Copper Wire 85% Recovery and Heater Cores.

The weekly price chart of #2 Copper Wire and Tubing is provided below:

The prices of Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units too posted surge during the 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, rising by 0.57% over the week. The prices of the commodity increased from INR 525,000 per Ton to INR 528,000 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 2^nd May, 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 9,783.00 per tonne as on 2^nd May, 2024. The LME Copper Cash Settlement contract prices declined modestly from $9,791.00 a day before to $9,660.00 per tonne. LME Copper stocks saw no change over the day, maintaining levels of 115,275 tonnes on 2^nd May, 2024.

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