Scrap Copper Prices: Weekly Market Report- Dec 29th, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (22^nd to 28^th December, 2023) 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. Romex Wire 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 $3.59 per Lb to $3.61 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 0.56% and 0.54% respectively.

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

Meantime, the prices of #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 #1 Copper Bare Bright is provided below:

A slight increase in price was witnessed in Copper Radiators as well.

Meantime, #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 prices held steady over the 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 $3.49 per Lb, up from the previous week price of $3.47 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.59 per Lb and $3.69 per Lb respectively.

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

Meantime, Romex Wire prices recorded a decline by 0.74%, falling from $1.35 per Lb at the beginning of the week to $1.34 per Lb at the end of the 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 and #1 Copper Wire and Tubing.

#3 Copper- Light Copper prices edged higher by 0.56% week-on-week. The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing were up by 0.54% and 0.53% respectively.

#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

The copper scrap prices recorded mixed trend over the previous week.

A few categories such as #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #1 Insulated Copper Wire 85% Recovery, Heater Cores, Cu/Al Radiators and #2 Insulated Copper Wire 50% Recovery recorded surge.

The weekly price chart of #1 Insulated Copper Wire 85% Recover, which recorded the highest increase in prices by 0.60% week-on-week is provided below. The prices of the commodity edged higher from CNY 33,500 per MT to CNY 33,700 per MT during the week ended 28^th December, 2023.

All the other commodities such as Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units witnessed no change on Index.

India Prices

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

The copper sheet cutting scrap prices recorded largest increase, rising from INR 392,000 per Ton to INR 396,000 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 higher on the Scrap Monster Index. 

The prices of Copper utensil scrap and Copper wire bars (HCL *) too were up during the week ended December 28^th, 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 Braziery Copper:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,630.00 per tonne as on 28^th December, 2023. The LME Copper Cash Settlement contract prices edged higher modestly from $8,511.50 a day before to $8,530.00 per tonne.

The LME Copper stocks saw marginal increase over the previous day to close at 166,775 tonnes on 28^th December, 2023, as compared with 165,050 tonnes on 27^th December, 2023.

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