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Market Reports March 17, 2023 05:55:24 PM

Scrap Copper Prices: Weekly Market Report- 17th March, 2023

Paul Ploumis
ScrapMonster Author
The LME Copper stocks saw modest increase over the previous day to close at 74,975 tonnes on 16th March, 2023, as compared with 73,400 tonnes on 15th March, 2023.

Scrap Copper Prices: Weekly Market Report- 17th March, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (10th March, 2023 to 16th March, 2023) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded decline across the board.

The biggest dip in prices over the prior week was witnessed in Sealed Units, whose prices edged lower from $0.31 per Lb to $0.30 per Lb. The other copper scrap varieties to record notable decline in prices include Starters and Alternator, which recorded substantial price falls by 3.13% and 3.03% respectively.

The weekly price movement for Sealed Units is shown in the below graph:

 

Meantime, the prices of Heater Cores, #2 Insulated Copper Wire 50% Recovery and #1 Insulated Copper Wire 85% Recovery recorded minimal decline in prices, when matched with the week before.

USA East Coast Prices

The prices of all copper scrap categories except Xmas Lights witnessed remarkable decline in the region. Sealed Units prices posted the biggest dip over the week, recording decline from $0.31 per Lb to $0.30 per Lb.

Starters prices were down by 3.13% over the week, falling from $0.32 per Lb to $0.31 per Lb.

The variation in prices over the week for Starters is given in the below chart:

 

A modest decline by 3.06% and 3.03% was seen in #3 Copper- Light Copper and Alternators respectively over the week.

The other scrap copper categories that recorded noteworthy decline in prices included #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, whose prices dipped by 2.98% and 2.90% respectively.

The prices of Heater Cores and #2 Insulated Copper Wire 50% Recovery registered nominal decline on Index.

USA Midwest Prices

The copper scrap prices in the region recorded decline across the board.

The biggest dip of 3.33% in prices over the prior week was witnessed in Sealed Units, whose prices edged lower from $0.30 per Lb to $0.29 per Lb. The other copper scrap varieties to record notable decline in prices include Starters and Alternator, which recorded substantial price falls by 3.23% and 3.13% respectively.

Meantime, the prices of Heater Cores and #2 Insulated Copper Wire 50% Recovery 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 Sealed Units, Starters and Alternator.

Also, Cu Yokes, Heater Cores, Alternator, #1 Insulated Copper Wire 85% Recovery, Scrap Electric Motors, Copper Transformer Scrap, #2 Insulated Copper Wire 50% Recovery, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Cu/Al Radiators, #3 Copper- Light Copper, #1 Copper Wire and Tubing and #1 Copper Bare Bright recorded modest negative price variation during the week.

A marginal dip in prices were reported in Copper Radiators, Romex Wire, #1 Insulated Copper Wire 85% Recovery, Heater Cores and #2 Copper Wire and Tubing week-over-week. 

 Meantime, Xmas Lights prices held steady on Index.

China Prices

All copper scrap categories witnessed weekly price decline.

#1 Insulated Copper Wire 85% Recovery and #2 Copper Wire and Tubing recorded biggest dip in prices during the previous week.

The #1 Insulated Copper Wire 85% Recovery prices edged lower by 3.79%, falling from CNY 31,700 per MT to CNY 30,500 per MT each. 

The weekly price chart of #1 Insulated Copper Wire 85% Recovery is provided below:

 

#2 Copper Wire and Tubing reported decline in prices by CNY 2,400 per MT, from CNY 63,850 per MT during the start of the week to end at $61,450 per MT. 

#1 Copper Wire and Tubing too reported 3.70% decline in prices over the week.

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 by INR 4,000 per ton over the previous week to close at INR 425,000 per ton on 16th March, 2023 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 dropped during the week ended 16th March, 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 Braziery Copper:

 

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,537.00 per tonne as on 16th March, 2023. The LME Copper Cash Settlement contract prices soared marginally from $8,525.00 a day before to $8,535.00 per tonne.

The LME Copper stocks saw modest increase over the previous day to close at 74,975 tonnes on 16th March, 2023, as compared with 73,400 tonnes on 15th March, 2023.

 

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