Scrap Copper Prices: Weekly Market Report- 10th November, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (3^rd November, 2023 to 10^th November, 2023) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded notable decline.

The biggest dip in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $3.28 per Lb to $3.24 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 substantial price falls by 1.18% and 1.15% respectively.

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

Meantime, the prices of Heater Cores, #1 Insulated Copper Wire 85% Recovery and Romex Wire recorded minimal decline in prices, when matched with the week before.

USA East Coast Prices

The prices of most copper scrap categories witnessed remarkable decline in the region. #3 Copper- Light Copper prices posted the biggest dip over the week, recording decline from $3.28 per Lb to $3.24 per Lb.

#2 Copper Wire and Tubing prices were down by 1.18% over the week, falling from $3.38 per Lb to $3.34 per Lb.

The variation in prices over the week for #2 Copper Wire and Tubing is given in the below chart:

A modest decline by 1.15% was seen in #1 Copper Wire and Tubing over the week.

The other scrap copper categories that recorded noteworthy decline in prices included #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire and Copper Radiators.

The remaining copper scrap commodities recorded no change in prices over the previous week.

USA Midwest Prices

The copper scrap prices in the region recorded decline.

The biggest dip of 1.22% in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $3.27 per Lb to $3.23 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 modest price falls by 1.19% and 1.15% respectively.

Meantime, the prices of #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Copper Radiators and #1 Copper Bare Bright recorded lowest decline in prices, when matched with the week before.

USA West Coast Prices

The copper scrap metal prices in the region witnessed noticeable decline week-on-week.

The scrap categories to record biggest dip in prices from the previous week were #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.

Also, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Copper Radiators and #1 Copper Bare Bright recorded modest negative price variation during the week.

Meantime, the prices of Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights held steady over the prior week.

China Prices

Most copper scrap categories witnessed weekly price decline.

Heater Cores and Tubing and Copper Transformer Scrap recorded biggest dip in prices during the previous week.

The #2 Copper Wire and Tubing and #1 Copper Wire and Tubing were the biggest losers, falling by 0.57% and 0.56% respectively.

The other prominent losers were #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, Heater Cores, #2 Insulated Copper Wire 50% Recovery and Cu/Al Radiators.

The least decline was seen in Cu/Al Radiators, whose weekly price chart is provided below:

The prices of Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units were unchanged during the week.

India Prices

The scrap commodities in Indian market saw their prices remain unchanged over the prior week.

The copper cable scrap prices were unchanged at INR 695,000 per ton over the previous week on the Scrap Monster Index. The weekly chart of the commodity is provided below:

The prices of Copper armeture, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap and Copper wire bars too held steady during the week ended 9^th November, 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 depicts the weekly price movement in Copper Radiators:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,110.00 per tonne as on 9^th November, 2023. The LME Copper Cash Settlement contract prices declined marginally from $8,088.00 a day before to $8,030.50 per tonne.

The LME Copper stocks saw slight decline over the previous day to close at 177,225 tonnes on 9^th November, 2023, as compared with 178,125 tonnes on 8^th November, 2023.

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