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Market Reports March 31, 2023 07:30:42 PM

Scrap Copper Prices: Weekly Market Report- 31st March, 2023

Paul Ploumis
ScrapMonster Author
The LME Copper Cash Settlement contract prices edged lower marginally from $9,052.00 a day before to $9,038.50 per tonne.

Scrap Copper Prices: Weekly Market Report- 31st March, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (24th to 30th March, 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 #3 Copper- Light Copper, whose prices edged higher from $3.65 per Lb to $3.70 per Lb. The other copper scrap varieties to record notable surge in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded modest price increases by 1.33% and 1.30% respectively.

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

 

The prices of #1 Copper Bare Bright and #1 Insulated Copper Wire 85% Recovery too increased over the prior week.

The rest of the copper scrap commodities witnessed no change over the prior week.

USA East Coast Prices

The prices of certain copper scrap categories witnessed marginal increase in the region. #3 Copper- Light Copper prices posted the biggest surge over the week, recording increase from $3.65 per Lb to $3.70 per Lb.

A notable surge by 1.33% and 1.30% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.

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

 

The other scrap copper category that recorded noteworthy jump in prices was #1 Copper Bare Bright, whose prices recorded week-on-week increase by 1.27%. Also, #1 Insulated Copper Wire 85% Recovery edged higher by 0.66% over the prior week.

The prices of all other scrap commodities held steady on Index.

USA Midwest Prices

The copper scrap prices in the region edged higher 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 $3.68 per Lb, up from the previous week price of $3.63 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.78 per Lb and $3.88 per Lb respectively.

The prices of #1 Copper Bare Bright and #1 Insulated Copper Wire 85% Recovery 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 increase 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.

Meantime, prices of Cu/Al Radiators/Fe, Starters, Sealed Units, Scrap Electric Motors, Romex Wire, Heater Cores, Harness Wire 35% Recovery, Cu Yokes, Cu/Al Radiator Ends, Copper Transformer Scrap, Copper Radiators, #2 Insulated Copper Wire 50% Recovery, Alternator, Cu/Al Radiators and Xmas Lights maintained prior week’s price levels.

China Prices

Most copper scrap categories recorded decline on Index, when compared with the week before, while a few held steady.

Copper Transformer Scrap declined the most, falling by 0.43% from CNY 11,750 per MT at the start of the week to end the week at CNY 11,700 per MT.

The weekly price chart of Copper Transformer scrap is provided below:

 

 

India Prices

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

The copper sheet cutting scrap prices were up by INR 5,000 per ton over the previous week to close at INR 459,000 per ton on 30th March, 2023 on the Scrap Monster Index. The weekly chart depicting the price movement in the commodity is provided below:

 

The prices of Copper wire bars (HCL*) recorded marginal increase over the week. The prices increased from INR 780,000 per ton at the beginning of the week to end at INR 785,000 per ton. 

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap and Copper utensil scrap too increased nominally during the week ended 30th 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 display 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 9,039.00 per tonne as on 30th March, 2023. The LME Copper Cash Settlement contract prices edged lower marginally from $9,052.00 a day before to $9,038.50 per tonne.

The LME Copper stocks saw surge over the previous day to close at 69,525 tonnes on 30th March, 2023, as compared with 68,075 tonnes on 29th March, 2023.

 

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