Scrap Copper Prices: Weekly Market Report-Feb 17th, 2023
Copper | 2023-02-17 11:21:50
The LME Copper Cash Settlement contract prices edged higher marginally from $8,826.00 a day before to $8,892.00 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 (10th February, 2023 to 16th February, 2023) 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 recorded surge, while the remaining maintained prior week’s price levels.
The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.60 per Lb to $3.73 per Lb. The other copper scrap varieties to record significant surge in prices include #2 Copper Wire and Tubing, #1 Copper Wire and Tubing, which recorded price increases by 3.42% and 3.33% respectively.
Meantime, the prices of Cu/Al Radiators, Cu/Al Radiator Ends, Sealed Units and Xmas Lights recorded no decline on Index.
The weekly price movement for Xmas Light is shown in the below chart:
USA East Coast Prices
The prices of certain copper scrap categories witnessed marginal surge in the region. #3 Copper- Light Copper prices posted the biggest increase over the week.
The prices of include #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright too increased modestly over the week.
A slight increase in price was witnessed in Cu Yokes, #1 Insulated Copper Wire 50% Recovery and Cu/Al Radiators/Fe.
The weekly price chart of Cu/Al Radiators/Fe is provided below:
Meantime, Cu/Al Radiator Ends, Sealed Units, Starters and Xmas Lights held steady over the week.
USA Midwest Prices
The prices of majority of copper scrap prices commodities in the region increased over the previous week.
The top three gainers were #3 Copper- Light Copper, #1 Copper Wire and Tubing and #1 Copper Bare Bright.
The #3 Copper- Light Copper prices ended the week at $3.64 per Lb, up from the previous week price of $3.51 per Lb. Also, #1 Copper Wire and Tubing and #1 Copper Bare Bright prices surged over the previous week to close at $3.84 per Lb and $3.94 per Lb respectively.
The prices of Copper Radiators, Romex Wire, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, #1 Insulated Copper Wire 85% Recovery, #2 Copper Wire and Tubing, Scrap electric Motors, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiators/Fe and Alternator too witnessed surge 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 surge in prices from the previous week were #3 Copper- Light Copper, #1 Copper Wire and Tubing and #1 Copper Bare Bright.
#3 Copper- Light Copper prices edged higher by 3.60% week-on-week. The prices of #1 Copper Wire and Tubing and #1 Copper Bare Bright were up by 3.41% and 3.32% respectively.
All other scrap categories, excluding Cu/Al Radiators, Cu/Al Radiator Ends, Sealed Units, Starters and Xmas Lights edged higher over the prior week.
China Prices
All copper scrap categories recorded increase on Index, when compared with the week before.
The weekly price chart of Sealed Units is provided below. The prices of the commodity witnessed highest surge week-on-week, edging higher by 0.73% from CNY 6,850 per MT to CNY 6,900 per MT during the week ended 16th February, 2023.
India Prices
The scrap commodities in Indian market saw no variation in prices, upon comparison with the prior week.
The copper cable scrap prices recorded no change from INR 767,000 per ton during the week.
The prices of copper armeture scrap too held steady on the Scrap Monster Index. The weekly chart depicting the price movement in the commodity is provided below:
The prices of Copper heavy scrap, Copper sheet cutting, Copper utensil scrap and Copper wire bars (HCL *) too were unmoved during the week ended February 16th, 2023.
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 Copper Tube:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,932.00 per tonne as on 16th February, 2023. The LME Copper Cash Settlement contract prices edged higher marginally from $8,826.00 a day before to $8,892.00 per tonne.
The LME Copper stocks saw marginal reduction over the previous day to close at 64,975 tonnes on 16th February, 2023, as compared with 65,975 tonnes on 15th February, 2023.
