Scrap Copper Prices: Weekly Market Report- 1st September, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (25^th to 31^st August, 2023) 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 Heater Cores, whose prices edged higher from $1.61 per Lb to $1.63 per Lb. The other copper scrap varieties to record notable surge in prices include Copper Radiators and Harness Wire 35% Recovery, which recorded modest price increases by 0.91% and 0.85% respectively.

The prices of #2 Insulated Copper Wire 50% Recovery, Romex Wire and #1 Insulated Copper Wire 85% Recovery too increased over the prior week.

The other scrap commodities which recorded week-on-week surge in prices were #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper.

Meantime, the prices of all other scrap copper commodities recorded no change when compared with the previous week.

USA East Coast Prices

The prices of certain copper scrap categories witnessed marginal increase in the region. Heater Cores prices posted the biggest surge over the week, recording increase from $1.61 per Lb to $1.63 per Lb.

A notable surge by 0.91% and 0.85% was seen in Copper Radiators and Harness Wire 35% Recovery respectively over the week.

The other scrap copper category that recorded noteworthy jump in prices was #2 Insulated Copper Wire 50% Recovery, whose prices recorded week-on-week increase by 0.79%. Also, Romex Wire prices edged higher by 0.74% over the prior week.

USA Midwest Prices

The copper scrap prices in the region edged higher over the previous week. The top three gainers were Heater Cores, Copper Radiators and Harness Wire 35% Recovery.

The Heater Cores prices ended the week at $1.62 per Lb, up from the previous week price of $1.60 per Lb. Also, Copper Radiators and Harness Wire 35% Recovery prices surged over the previous week to close at $2.21 per Lb and $1.18 per Lb respectively.

The prices of #2 Insulated Copper Wire 50% Recovery, Romex Wire, #1 Insulated Copper Wire 85% Recovery, #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper  too posted modest increase over the week.

USA West Coast Prices

The copper scrap metal prices in the region witnessed nominal jump week-on-week.

The scrap categories to record largest increase in prices from the previous week were Heater Cores, Copper Radiators and Harness Wire 35% Recovery.

Meantime, 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 maintained prior week’s price levels.

China Prices

All copper scrap categories, except Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units recorded increase on Index, when compared with the week before.

#2 Copper Wire and Tubing surged the most, rising by 1.19% from CNY 63,050 per MT at the start of the week to end the week at CNY 63,800 per MT.

The price of #1 Copper Wire and Tubing too rose by 1.17% week-on-week. The commodity saw its price edge higher from CNY 64,050 per MT to CNY 64,800 per MT. Also, #1 Copper Bare Bright prices were up by 1.10% on Index.

Meantime, the Cu/Al Radiators and #2 Insulated Copper Wire 50% Recovery prices recorded the least decline over the prior week, falling by 0.2% each.

India Prices

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

The prices of Copper sheet cutting were down by 1.51%, falling from INR 398,000 per Ton a week before to INR 392,000 per Ton during the week ended 31^st August, 2023.

The prices of Copper cable scrap, Copper heavy scrap, Copper armeture, Copper utensil scrap and Copper wire bars (HCL*) too registered modest decline during the week.

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.

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,380.50 per tonne as on 31^st August, 2023. The LME Copper Cash Settlement contract prices declined marginally from $8,394.50 a day before to $8,359.50 per tonne.

The LME Copper stocks registered notable jump over the previous day to close at 102,900 tonnes on 31^st August, 2023, as compared with 99,225 tonnes on 30^th August, 2023.

Subscribe to Scrap Monster Live Scrap Prices