Scrap Copper Prices: Weekly Market Report- 17th May, 2024
Market Reports | 2024-05-17 11:53:18
Meantime, the closing price of LME Copper 3-Month contract stood at USD 10,400 per tonne as on 16th May, 2024.
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 to 16th May, 2024) on the Scrap Monster Price Index.
North America Prices
The copper scrap prices in the region recorded increase, when matched with the week before that.
The biggest increase in prices over the prior week was witnessed in Xmas Lights, whose prices edged higher by 8.0% from $0.25 per Lb to $0.27 per Lb. The other copper scrap varieties to record notable surge in prices include Sealed Units and Alternator, whose prices recorded substantial increase by 5.26% each.
The weekly price movement for Xmas Lights is shown in the below chart:
The prices of Starters, #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper too witnessed surged on Index.
The rest of the copper scrap commodities also registered increase in prices over the prior week.
USA East Coast Prices
The prices of all copper scrap categories witnessed increase in the region. Xmas Lights posted the biggest surge over the week, recording increase from $0.25 per Lb to $0.27 per Lb.
A notable surge by 5.26% was seen in Alternator and Sealed Units prices over the previous week.
The below chart depicts the price movement in Sealed Units over the past week:
The other scrap copper categories that recorded noteworthy jump in prices included Starters, #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper.
All other scrap copper categories too soared on Index.
USA Midwest Prices
The copper scrap prices in the region edged higher over the previous week. The top three gainers were Xmas Lights, Alternator and Sealed Units.
The Xmas Lights prices ended the week at $0.26 per Lb, up from the previous week price of $0.24 per Lb. Also, Alternator and Sealed Units prices surged over the previous week to close at $0.39 per Lb and $0.40 per Lb respectively.
The prices of Starters, #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper surged higher over the previous week.
The other scrap varieties that reported marginal increase in prices during the week included Copper Radiators, #1 Insulated Copper Wire 85% Recovery, Romex Wire, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Cu/Al Radiators, Cu/Al Radiators/Fe, Heater Cores, Cu Yokes, Copper Transformer Scrap, Scrap Electric Motors and Cu/Al Radiator Ends.
USA West Coast Prices
The prices of all copper scrap categories witnessed increase in the region. Xmas Lights posted the biggest surge over the week, recording increase from $0.25 per Lb to $0.27 per Lb.
A notable surge by 5.26% was seen in Alternator and Sealed Units. The price of Starters too were up by 5.13%.
The other scrap copper categories that recorded notable jump in prices included #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper, Copper Transformer Scrap and Sealed Units.
All other scrap copper categories too were up on Index.
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 from CNY 74,650 per MT to CNY 76,300 per MT over the week.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
#1 Copper Wire and Tubing reported surge in prices by CNY 1,650 per MT, from CNY 75,650 per MT during the start of the week to end at $77,300 per MT. #1 Copper Bare Bright too reported 2.07% surge in prices over the 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 by INR 25,000 per ton over the previous week to close at INR 565,000 per ton on 16th May, 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 nominally during the week ended 16th 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 Copper Bare Bright:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 10,400 per tonne as on 16th May, 2024. The LME Copper Cash Settlement contract prices increased from $10,221.00 a day before to $10,308 per tonne.
The LME Copper stocks saw marginal reduction over the previous day to close at 104,425 tonnes on 16th May, 2024, as compared with 104,625 tonnes on 15th May, 2024.
Subscribe to Scrap Monster Live Scrap Prices
