Copper Scrap Prices: Weekly Market Report- January 24, 2025
Market Reports | 2025-01-24 11:10:31
The closing price of LME Copper 3-Month contract stood at USD 9,179 per tonne as of January 23, 2025.
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 (January 17 to January 23, 2025) 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 held steady, while the remaining edged lower from prior week’s price levels.
The biggest decline in prices over the prior week was witnessed in #3 Copper-Light Copper, whose prices edged lower from $3.90 per Lb to $3.86 per Lb. The other copper scrap varieties to record notable fall in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price declines by 1% and 0.98% respectively.
The weekly price movement for #3 Copper-Light Copper is shown in the below chart:
The other copper scrap categories to witness jump in prices were #1 Copper Bare Bright and Copper Radiators. The #1 Copper Bare Bright prices registered a week-on-week decline by 0.95%. Also, Copper Radiators prices were down by 0.37% from $2.67 per Lb at the beginning of the week to close the week at $2.66 per Lb.
The rest of the copper scrap categories held steady on the Index during the week ended January 23, 2025.
USA East Coast Prices
The prices of most copper scrap categories witnessed no change in the region. #3 Copper-Light Copper prices posted the biggest decline over the week.
The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing too recorded decline over the week. The other scrap commodities whose prices fell during the week included #1 Copper Bare Bright and Copper Radiators.
The weekly price chart of Copper Radiators is provided below:
Meanwhile, the prices of all other commodities were flat on the Index.
USA Midwest Prices
The copper scrap prices in the region witnessed mixed trend, when matched with the week before that. The prices of majority of the commodities remained constant.
The largest dip in prices over the prior week was witnessed in #3 Copper-Light Copper, whose prices edged lower from $3.80 per Lb to $3.76 per Lb.
The other copper scrap varieties to record notable decline in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price declines by 1.03% and 1% respectively.
The #1 Copper Bare Bright prices were down from $4.10 per Lb to $4.06 per Lb during the course of the week. Also, Copper Radiators scrap fell by 0.38% during the week ended January 23, 2025.
The prices of Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights held steady over the previous week.
The weekly price movement for Sealed Units is shown in the below chart:
USA West Coast Prices
The prices of most copper scrap categories witnessed no change in the region. However, a few reported decline over the previous week.
#3 Copper-Light Copper prices posted the biggest decline over the week.
The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing too declined modestly over the week.
The other copper scrap categories to witness decline in prices were #1 Copper Bare Bright and Copper Radiators.
The Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights prices were flat over the previous week.
China Prices
The copper scrap prices recorded decline over the previous week.
#2 Copper Wire and Tubing prices edged lower by 2.19% week-on-week to close at CNY 69,150 per MT during the week.
The prices of #1 Copper Wire and Tubing also were down by 2.16%, when compared with the week before.
The Heater Cores prices recorded decline, falling from the previous week’s prices by 2.13% as of January 23, 2025. The price of the commodity ended the week at CNY 29,800 per MT. The weekly price chart of the commodity for the week ending January 23, 2025 is given below:
All the other commodities such as #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, Heater Cores, #2 Insulated Copper Wire 50% Recovery, Cu/Al Radiators, Harness Wire 35% Recovery, Cu Yokes, Copper Transformer Scrap, Sealed Units, and Scrap Electric Motors also reported marginal decline in prices on the Index.
India Prices
The scrap commodities in Indian market recorded decline, upon comparison with the previous week.
The Copper sheet cutting prices recorded the biggest decline, with the prices of the commodity recording decline by 1.73%. The prices of the commodity fell from INR 405,000 per Ton to INR 398,000 per Ton. The weekly chart depicting the price movement in Copper sheet cutting is provided below:
The prices of Copper armeture, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars (HCL *) declined on the Index during the week ended January 23, 2025.
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.
LME Copper Market Update
The closing price of LME Copper 3-Month contract stood at USD 9,179 per tonne as of January 23, 2025. The LME Copper Cash Settlement contract prices decreased marginally from $9,123.00 a day before to $9,056.00 per tonne.
The LME Copper stocks saw marginal decline over the previous day to close at 259,050 tonnes of January 23, 2025, when compared with 260,400 tonnes a day before.
