Scrap Copper Prices: Weekly Market Report- 15th March, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (8^th to 15^th March, 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 4.55% from $0.22 per Lb to $0.23 per Lb. The other copper scrap varieties to record notable surge in prices include #3 Copper- Light Copper and #2 Copper Wire and Tubing, which recorded substantial price increases by 4.30% and 4.18% respectively.

The weekly price movement for Xmas Lights is shown in the below chart:

The prices of #1 Copper Bare Bright, #1 Copper Wire and Tubing, Copper Radiators, Heater Cores, Cu/Al Radiators, #1 Insulated Copper Wire 85% Recovery and #2 Insulated Copper Wire 50% Recovery too witnessed surged on Index.

The rest of the copper scrap commodities too 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 $0.22 per Lb to $0.23 per Lb.

A notable surge by 4.30% and 4.18% was seen in include #3 Copper- Light Copper and #2 Copper Wire and Tubing respectively over the week.

The below chart depicts the price movement in #3 Copper- Light Copper over the past week:

The other scrap copper categories that recorded noteworthy jump in prices included #1 Copper Wire and Tubing, #1 Copper Bare Bright, Copper Transformer Scrap, Cu Yokes and Copper Radiators.

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, #3 Copper- Light Copper and #2 Copper Wire and Tubing.

The Xmas Lights prices ended the week at $0.23 per Lb, up from the previous week price of $0.22 per Lb. Also, #3 Copper- Light Copper and #2 Copper Wire and Tubing prices surged over the previous week to close at $3.64 per Lb and $3.74 per Lb respectively.

The prices of #1 Copper Bare Bright, Copper Radiators, Heater Cores, Cu/Al Radiators, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Cu Yokes, Cu/Al Radiators/Fe and Harness Wire 35% Recovery surged higher over the previous week.

The other scrap varieties that reported marginal increase in prices during the week included Romex Wire, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Scrap Electric Motors, Sealed Units and Starters.

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 $0.22 per Lb to $0.23 per Lb.

A notable surge by 4.20% and 4.09% was seen in include #3 Copper- Light Copper and #2 Copper Wire and Tubing respectively over the week.

The other scrap copper categories that recorded notable jump in prices included #1 Copper Wire and Tubing, #1 Copper Bare Bright, Copper Transformer Scrap, Cu Yokes and Copper Radiators.

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 63,750 per MT to CNY 65,350 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 1,600 per MT, from CNY 64,750 per MT during the start of the week to end at $66,350 per MT.  #1 Insulated Copper Wire 85% Recovery too reported 2.36% 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 15,000 per ton over the previous week to close at INR 419,000 per ton on 14^th March, 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 14^th March, 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 Braziery Copper:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,890 per tonne as on 14^th March, 2024. The LME Copper Cash Settlement contract prices increased from $8,727.00 a day before to $8,791.50 per tonne.

The LME Copper stocks saw reduction over the previous day to close at 108,050 tonnes on 14th March, 2024, as compared with 108,925 tonnes on 13^th March, 2024.

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