Scrap Copper Prices: Weekly Market Report- 29th September, 2023
Market Reports | 2023-09-29 08:02:48
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,168.50 per tonne as on 28th September, 2023.
By Paul Ploumis
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (22nd September, 2023 to 28th September, 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 notable price increases by 0.92% and 0.85% respectively.
The weekly price movement for Heater Cores is shown in the below chart:
The prices of #1 Copper Bare Bright, #2 Insulated Copper Wire 50% Recovery, Romex Wire, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper too witnessed surge on Index.
The rest of the copper scrap commodities witnessed no change over the prior week.
USA East Coast Prices
The prices of most copper scrap categories witnessed substantial 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 0.92% and 0.85% was seen in Copper Radiators and Harness Wire 35% Recovery respectively over the week.
The weekly price chart of Harness Wire 35% Recovery is provided below:
The other scrap copper categories that recorded noteworthy jump in prices included #1 Copper Bare Bright, #2 Insulated Copper Wire 50% Recovery, Romex Wire, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper.
All other scrap commodities held on to previous week’s price levels.
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 $2.19 per Lb and $1.18 per Lb respectively.
Meantime, the prices of #1 Insulated Copper Wire 85% Recovery, 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 witnessed no change over the previous week.
USA West Coast Prices
The copper scrap metal prices in the region witnessed noticeable jump week-on-week.
The scrap categories to record biggest increase in prices from the previous week were Heater Cores, Copper Radiators and Harness Wire 35% Recovery.
Also, #1 Copper Bare Bright, #2 Insulated Copper Wire 50% Recovery, Romex Wire, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper recorded positive price variation during the week.
China Prices
All copper scrap categories witnessed weekly price decline.
#2 Copper Wire and Tubing and #1 Copper Wire and Tubing recorded biggest dip in prices during the previous week.
The #2 Copper Wire and Tubing prices edged lower from CNY 62,200 per MT to CNY 61,450 per MT over the week.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
#1 Copper Wire and Tubing reported decline in prices by CNY 750 per MT, from CNY 63,200 per MT during the start of the week to end at $62,450 per MT. #1 Copper Bare Bright too reported 1.12% 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 5,000 per ton over the previous week to close at INR 375,000 per ton on 28th September, 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 decline nominally during the week ended 28th September, 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 #1 Copper Bare Bright:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,168.50 per tonne as on 28th September, 2023. The LME Copper Cash Settlement contract prices increased from $8,017.00 a day before to $8,112.00 per tonne.
The LME Copper stocks saw slight reduction over the previous day to close at 167,825 tonnes on 28th September, 2023, as compared with 167,850 tonnes on 27th September, 2023.
