Scrap Copper Prices: Weekly Market Report- 3rd November, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (27^th October to 2^nd November, 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 $3.24 per Lb to $3.28 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 1.20% and 1.16% respectively.

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

The prices of #1 Copper Bare Bright, Heater Cores and Copper Radiators too increased modestly over the prior week.

Meantime, Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 85% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights witnessed no change in prices over the prior week.

USA East Coast Prices

The prices of certain copper scrap categories witnessed increase in the region. #3 Copper- Light Copper prices posted the biggest surge over the week, recording increase from $3.24 per Lb to $3.28 per Lb.

A notable surge by 1.20% and 1.16% 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 1.13%. Also, Heater Cores and Copper Radiators edged higher marginally by 0.61% and 0.46% 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 #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 $3.27 per Lb, up from the previous week price of $3.23 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.37 per Lb and $3.47 per Lb respectively.

The prices of #1 Copper Bare Bright, #1 Copper Bare Bright, Heater Cores and Copper Radiators 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 #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.

Meantime, prices of Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 85% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights maintained prior week’s price levels.

China Prices

All copper scrap categories recorded increase on Index, when compared with the week before.

#2 Copper Wire and Tubing and Sealed Units surged the most, rising by 0.74% each. #2 Copper Wire and Tubing prices rose from CNY 61,050 per MT at the start of the week to end the week at CNY 61,500 per MT. Sealed Units prices too surged higher from CNY 6,750 per MT to CNY 6,800 per MT.

The weekly price chart of Sealed Units is provided below:

Meantime, the #1 Copper Wire and Tubing, Scrap Electric Motors and #1 Copper Bare Bright too recorded notable increase over the prior week.

India Prices

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

The Copper sheet cutting prices increased the most, rising by 2.19%, from INR 366,000 per Ton at the start of the week to INR 374,000 per Ton on 2^nd November, 2023 on the Scrap Monster Index. The weekly chart depicting the price movement in the commodity is provided below:

The prices of Copper armeture, copper cable scrap and copper heavy scrap too edged higher over the previous week.

The prices of Copper utensil scrap and Copper wire bars (HCL*) too recorded surge during the week ended 2^nd November, 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 Copper Dry Bright:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,145.00 per tonne as on 2^nd November, 2023. The LME Copper Cash Settlement contract prices soared marginally from $8,041.00 a day before to $8,066.00 per tonne.

The LME Copper stocks registered decline over the previous day to close at 170,825 tonnes on 2^nd November, 2023, as compared with 174,400 tonnes on 1^st November, 2023.

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