Scrap Copper Prices: Weekly Market Report-Jan. 13th, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (5^th January, 2023 to 12^th January, 2023) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded increase across the board.

The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.42 per Lb to $3.76 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 substantial price increases by 9.66% and 9.39% respectively.

The weekly price movement for #2 Copper Wire and Tubing is shown in the below graph:

The prices of #1 Copper Bare Bright and Xmas Lights too witnessed notable surge in prices over the week.

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiators/Fe and Cu/Al Radiator Ends recorded minimal jump in prices, when matched with the week before.

USA East Coast Prices

The prices of most copper scrap categories witnessed remarkable increase in the region. #3 Copper- Light Copper prices posted the biggest surge over the week, recording increase from $3.42 per Lb to $3.76 per Lb.

The variation in prices over the week for #3 Copper- Light Copper is given in the below chart:

A notable surge by 9.66% and 9.39% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.

The other scrap copper categories that recorded noteworthy jump in prices included #1 Copper Bare Bright, Xmas Lights, Sealed Units, Alternator and Starters.

The prices of Cu/Al Radiators/Fe, Cu/Al Radiators and Cu/Al Radiator Ends registered modest surge 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 $3.67 per Lb, up from the previous week price of $3.33 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.77 per Lb and $3.87 per Lb respectively.

The price chart for Cu/Al Radiators for the week from 5^th January to 12^th January, 2023 is provided below:

Meantime, Cu/Al Radiators and Cu/Al Radiators/Fe prices recorded marginal increase over the 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 #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.

Also, #1 Copper Bare Bright, Xmas Lights, Sealed Units, Alternator and Starters recorded positive price variation during the week.

Meantime, marginal increase in prices were reported in Cu/Al Radiators and Cu/Al Radiators/Fe week-over-week. 

China Prices

All copper scrap categories witnessed weekly price increase.

#1 Insulated Copper Wire 85% Recovery and #2 Copper Wire and Tubing recorded biggest surge in prices during the previous week.

The #1 Insulated Copper Wire 85% Recovery prices edged higher from CNY 29,500 per MT to CNY 31,550 per MT each. 

The weekly price chart of #1 Insulated Copper Wire 85% Recovery is provided below:

#2 Copper Wire and Tubing reported surge in prices by CNY 4,100 per MT, from CNY 59,350 per MT during the start of the week to end at $63,450 per MT.  #1 Copper Wire and Tubing too reported 6.79% surge in prices over the week.

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 47,000 per ton over the previous week to close at INR 440,000 per ton on 12^th January, 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 increased during the week ended 12^th January, 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 Braziery Copper:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,090.00 per tonne as on 12^th January, 2023. The LME Copper Cash Settlement contract prices increased from $8,987.00 a day before to $9,071.50 per tonne.

The LME Copper stocks saw reduction over the previous day to close at 84,550 tonnes on 12^th January, 2023, as compared with 84,800 tonnes on 11^th January, 2023.

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