Copper Scrap Prices: Weekly Market Report- November 29, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (November 22 to November 27, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region displayed mixed trend.

#3 Copper- Light Copper saw the largest price increase over the previous week, going up from $3.58 per pound to $3.66 per pound.

The weekly price movement for #3 Copper- Light Copper is shown in the below graph:

The other copper scrap varieties to record jump in prices include Scrap Electric Motors, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price increase by 2.22%, 2.17% and 2.12% respectively.

The prices of #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Harness Wire 35% Recovery, Romex Wire, Cu Yokes, and Heater Cores also registered week-on-week jump during the week ended November 27, 2024.

In the meantime, prices of Xmas Lights, Starters, Sealed Units, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Alternator and Cu/Al Radiators held steady on the Index.

USA East Coast Prices

The majority of copper scrap categories in the region recorded increase in price during the previous week. However, a few commodities recorded no change in prices. #3 Copper- Light Copper prices recorded biggest increase over the week, recording a jump from $3.58 per Lb to $3.66 per Lb. A modest increase of 2.22% and 2.17% was seen in Scrap Electric Motors and #2 Copper Wire and Tubing respectively over the week.

The below chart displays the variation in prices of Scrap Electric Motors over the previous week:

The other scrap copper categories that recorded upward movement in prices were #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Harness Wire 35% Recovery, Romex Wire, Cu Yokes, and Heater Cores.

All other scrap varieties held steady over the week.

USA Midwest Prices

The copper scrap prices in the region mostly edged higher over the previous week.

The top three gainers were #3 Copper- Light Copper, Scrap Electric Motors and #2 Copper Wire and Tubing.

The #3 Copper- Light Copper prices ended the week at $3.56 per Lb, up from the previous week’s price of $3.48 per Lb. Also, Scrap Electric Motors and #2 Copper Wire and Tubing prices recorded marginal increase over the previous week to close at $0.45 per Lb and $3.66 per Lb respectively.

Heater Cores posted the least increase over the week, rising by 0.64% week-on-week.

In the meantime, Xmas Lights, Starters, Sealed Units, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Alternator and Cu/Al Radiators witnessed no change in prices on the Index.

USA West Coast Prices

The copper scrap metal prices in the region was a mixed bag, with prices of most categories registering increase on the Index. However a few copper scrap categories held steady when matched with the previous week’s prices.

The scrap category to increase the most was #3 Copper- Light Copper, whose prices inched higher from $3.65 per Lb at the start of the week to $3.73 per Lb towards the end of the week. It was followed by Scrap Electric Motors and #2 Copper Wire and Tubing, which recorded price increase by 2.17% and 2.13% respectively.

Also, #1 Copper Wire and Tubing recorded weekly increase, with prices rising from $3.85 per Lb during the prior week to $3.93 per Lb as of November 27, 2024.

China Prices

Almost all of the copper scrap categories, except a few, witnessed no change on the Index.

Copper Transformer Scrap, Cu Yokes, and Harness Wire 35% Recovery prices recorded increase in prices during the previous week.

On the other hand, Cu/Al Radiators and #2 Insulated Copper Wire 50% Recovery prices declined on the Index as of November 28, 2024.

#2 Insulated Copper Wire 50% Recovery prices registered weekly decline by 0.2%, falling from CNY 248,000 per MT to CNY 24,750 per MT. The weekly price chart of the commodity is provided below:

In the meantime, the prices of #1 Copper Bare Bright, #1 Copper Wire and Tubing, #1 Insulated Copper Wire 85% Recovery, #2 Copper Wire and Tubing, Heater Cores, Scrap Electric Motors, and Sealed Units  held steady over the previous day’s prices.

India Prices

The scrap commodities in Indian market recorded decline from the previous week's price levels.

The copper sheet cutting prices dropped by INR 4,000 per Ton to INR 484,000 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 November 28, 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 Braziery Copper:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 8,974.00 per tonne as of November 28, 2024. The LME Copper Cash Settlement contract inched lower marginally from $8,977.50 a day before to $8,850.50 per tonne.

The LME Copper stocks inched higher marginally over the previous day to close at 270,525 tonnes as of November 28, 2024, when compared with 269,050 tonnes a day before.

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