Copper Scrap Prices: Weekly Market Report- 19th April, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (12^th to 18^th, April, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region, except Heater Cores, recorded increase during the week, upon comparison with the previous week.

The biggest surge in prices over the prior week was witnessed in Sealed Units and Alternator, whose prices edged higher by 5.71% each.

The prices of Sealed Units were up from $0.35 per Lb to $0.37 per Lb on Index. Similarly, the Alternator prices increased by $0.02 per Lb to close the week at $0.37 per Lb.

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

The other copper scrap varieties to record notable increase in prices include Starters, Copper Transformer Scrap and Scrap Electric Motors.

Meantime, the prices of Cu/Al Radiator Ends, #1 Insulated Copper Wire 85% Recovery and Romex recorded minimal increase during the week ended 18^th April, 2024, when matched with the week before.

USA East Coast Prices

The prices of all copper scrap categories, except Heater Cores, witnessed remarkable surge in the region. Alternator and Sealed Units prices posted the biggest increase over the week, recording surge by 5.71% each.

Starters prices were up by 5.56% each over the previous week. The prices of the commodity edged higher from $0.36 per Lb to $0.38 per Lb.

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

A modest surge in prices by 5.13% and 5.00% was seen in Copper Transformer Scrap and Scrap Electric Motors respectively over the week.

The other scrap copper category that recorded noteworthy increase in prices was Cu/Al Radiators/Fe, whose prices edged higher by 4.65% week-on-week from $1.29 per Lb to $1.35 per Lb.

Cu/Al Radiator Ends, #1 Insulated Copper Wire 85% Recovery and Romex prices registered least increase on a weekly basis.

USA Midwest Prices

The copper scrap prices in the region mostly recorded increase. Only Heater Cores maintained steady prices.

The biggest increase of 5.88% in prices over the prior week was witnessed in Alternator and Sealed Units.

The other copper scrap varieties to record notable increase in prices include Starters and Copper Transformer Scrap, which recorded substantial price increase by 5.71% and 5.26% respectively.

Meantime, the prices of Cu/Al Radiator Ends, #1 Insulated Copper Wire 85% Recovery and Romex recorded lowest increase in prices, when matched with the week before.

USA West Coast Prices

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

The scrap categories to record biggest increase in prices from the previous week were Alternator, Sealed Units and Starters.

Also, Cu/Al Radiators, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Copper Transformer Scrap, Scrap Electric Motors, Xmas Lights, #3 Copper- Light Copper, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright recorded notable positive price variation during the week.

Also, marginal increase in prices were reported in Cu/Al Radiator Ends, #1 Insulated Copper Wire 85% Recovery, Romex Wire, Copper Radiators, Cu Yokes and #2 Insulated Copper Wire 50% Recovery week-over-week. 

Heater Cores was the only commodity to see dip in prices over the week.

China Prices

The copper scrap categories witnessed mixed trend in prices during the week.

#2 Copper Wire and Tubing and #1 Copper Wire and Tubing recorded biggest surge in prices during the previous week. The prices of these commodities were up by 0.28% each during the week.

The weekly price chart of #1 Copper Wire and Tubing is provided below:

The #1 Insulated Copper Wire 85% Recovery prices edged higher by 0.27%, rising from CNY 37,300 per MT to CNY 37,400 per MT. 

#1 Copper Bare Bright reported increase in prices by CNY 200 per MT, from CNY 75,500 per MT during the start of the week to end at $75,700 per MT. 

Heater Cores reported least increase in prices over the previous week.

Meantime, prices of Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units recorded no change week-on-week.

India Prices

The scrap commodities in Indian market saw their prices inched lower over the prior week.

The copper sheet cutting scrap prices were down sharply by INR 7,000 per ton over the previous week to close at INR 491,000 per ton on 18^th April, 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 declined during the week ended 18^th April, 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 Copper Dry Bright:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,706.50 per tonne as on 18^th April, 2024. The LME Copper Cash Settlement contract prices increased modestly from $9,434.00 a day before to $9,617.00 per tonne.

The LME Copper stocks saw modest decline over the previous day to close at 122,925 tonnes on 18^th April, 2024, as compared with 123,775 tonnes on 17^th April, 2024.

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