Scrap Copper Prices: Weekly Market Report- 19th January, 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, January, 2024) 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. The prices of majority of the commodities maintained prior week’s price levels, while the remaining recorded surge. Copper Radiators alone registered dip in prices over the prior week.

The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.34 per Lb to $3.35 per Lb. The other copper scrap varieties to record significant surge in prices include #2 Copper Wire and Tubing as well as #1 Copper Wire and Tubing, which recorded price increases by 0.29% and 0.28% respectively.

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

Meantime, the prices of Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, 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 recorded no change on Index.

USA East Coast Prices

The prices of certain copper scrap categories witnessed marginal surge in the region. #3 Copper- Light Copper prices posted the biggest increase over the week.

The prices of #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright too increased modestly over the week.

The weekly price chart of #2 Copper Wire and Tubing is provided below:

Meantime, Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, 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 week.

Copper Radiators prices recorded marginal decline by $0.01 per Lb over the prior week.

USA Midwest Prices

The prices of majority of copper scrap prices commodities in the region increased over the previous week.

The top three gainers 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 $3.33 per Lb, up from the previous week price of $3.32 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.43 per Lb and $3.53 per Lb respectively.

The prices of #1 Copper Bare Bright too recorded increase on Index.

Meantime, Copper Radiators prices recorded a decline by 0.45% from the end of the previous week.

USA West Coast Prices

The copper scrap metal prices in the region witnessed mixed trend week-on-week.

The scrap categories to record notable surge 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.

#3 Copper- Light Copper prices edged higher by 0.29% week-on-week. The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing were up by 0.28% each over the previous week.

Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, 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 were flat over the prior week.

China Prices

All copper scrap categories witnessed weekly price declines.

#2 Copper Wire and Tubing recorded the biggest dip in prices during the previous week.

#1 Copper Wire and Tubing reported dip in prices by CNY 500 per MT, from CNY 63,350 per MT during the start of the week to end at $62,850 per MT. 

#1 Copper Bare Bright and Sealed Units too reported drop in prices by 0.74% each over the week.

Harness Wire 35% Recovery and Cu Yokes prices recorded the least decline.

The Harness Wire 35% Recovery prices edged lower from CNY 16,650 per MT to CNY 16,600 per MT each. 

The weekly price chart of Harness Wire 35% Recovery is provided below:

India Prices

The scrap commodities in Indian market recorded decline, upon comparison with the prior week.

The copper sheet cutting scrap prices recorded largest dip, falling from INR 385,000 per Ton to INR 380,000 per Ton during the week. The weekly chart depicting the price movement in the commodity is provided below:

The prices of copper armature, copper heavy scrap and copper cable scrap too edged lower on the Scrap Monster Index. 

The prices of Copper utensil scrap and Copper wire bars (HCL *) too were down during the week ended January 18^th, 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 display 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 8,280.00 per tonne as on 18^th January, 2024. The LME Copper Cash Settlement contract prices edged lower modestly from $8,230.00 a day before to $8,189.00 per tonne.

The LME Copper stocks saw marginal increase over the previous day to close at 157,325 tonnes on 18^th January, 2024, as compared with 154,075 tonnes on 17^th January, 2024.

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