Weekly Market Report: Scrap Copper Prices- 21st April, 2023
Market Reports | 2023-04-21 12:14:42
The LME Copper Cash Settlement contract prices held steady at $8,875.00 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 (14th April, 2023 to 20th April, 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. A few prices recorded decline, while others maintained previous 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 $3.71 per Lb to $3.62 per Lb. The other copper scrap varieties to record notable dip in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded substantial decline in prices by 2.36% and 2.30% respectively.
The weekly price movement for #3 Copper- Light Copper is shown in the below chart:
USA East Coast Prices
The prices of certain copper scrap categories witnessed marginal decline in the region. #3 Copper- Light Copper prices posted the biggest decline over the week.
The other scrap commodities that witnessed decline over the week were #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Copper Radiators, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #1 Copper Bare Bright.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
Harness Wire 35% Recovery registered the smallest decline in prices. The prices were down by 0.79% over the week.
USA Midwest Prices
The prices of majority of copper scrap prices commodities in the region edged lower over the previous week. The top three losers were #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing .
The #3 Copper- Light Copper prices ended the week at $3.61 per Lb, down from the previous week price of $3.70 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices declined over the previous week to close at $3.71 per Lb and $3.81 per Lb respectively.
The prices of Xmas Lights, Copper Transformer Scrap, Alternator, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends and Cu/Al Radiators held steady 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 largest decline in prices from the previous week were #3 Copper- Light Copper, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright.
Meantime, prices of #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire and Copper Radiators too were down when compared with the prior week.
China Prices
Most copper scrap categories recorded decline on Index, when compared with the week before.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
The prices of the commodity recorded largest decline by 1.15%, falling from CNY 65,100 per MT to CNY 64,350 per MT during the week.
The other copper scrap categories to record significant decline were #1 Copper Wire and Tubing and #1 Copper Bare Bright.
India Prices
The scrap commodities in Indian market saw their prices edge lower over the prior week.
The copper sheet cutting scrap prices were down significantly by INR 20,000 per ton over the previous week to close at INR 441,000 per ton on 20th April, 2023 on the Scrap Monster Index. The weekly chart depicting the price movement in the commodity is provided below:
The prices of Copper wire bars (HCL*) recorded least decline over the week. The prices dropped from INR 787,000 per ton at the beginning of the week to end at INR 767,000 per ton.
The prices of Copper Armature, Copper cable scrap, Copper heavy scrap and Copper utensil scrap too declined nominally during the week ended 20th April, 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 Radiators:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,885.00 per tonne as on 20th April, 2023. The LME Copper Cash Settlement contract prices held steady at $8,875.00 per tonne.
The LME Copper stocks saw modest increase over the previous day to close at 51,850 tonnes on 20th April, 2023, as compared with 51,175 tonnes on 19th April, 2023.
