Scrap Copper Prices: Weekly Market Report-Jan. 20th, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (12^th January, 2023 to 19^th January, 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 $3.76 per Lb to $3.84 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 2.07% and 2.02% respectively.

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

The prices of #1 Copper Bare Bright, Copper Radiators, Harness Wire 35% Recovery, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Romex Wire and Heater Cores prices too witnessed surged 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. #3 Copper- Light Copper prices posted the biggest surge over the week, recording increase from $3.76 per Lb to $3.84 per Lb.

A notable surge by 2.07% and 2.02% 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, Copper Radiators and Harness Wire 35% Recovery.

The prices of #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Romex Wire and Heater Cores 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 $3.75 per Lb, up from the previous week price of $3.67 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.85 per Lb and $3.95 per Lb respectively.

The price chart for #2 Copper Wire and Tubing for the week from 12^th January to 19^th January, 2023 is provided below:

The prices of #1 Copper Bare Bright too posted modest 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, Copper Radiators, Harness Wire 35% Recovery, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Romex Wire and Heater Cores recorded positive price variation during the week.

China Prices

All copper scrap categories witnessed weekly price increase.

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

The Heater Cores prices edged higher from CNY 27,450 per MT to CNY 28,050 per MT over the week. 

The weekly price chart of Heater Cores is provided below:

#1 Insulated Copper Wire 85% Recovery reported surge in prices by CNY 600 per MT, from CNY 31,550 per MT during the start of the week to end at $32,150 per MT.  #2 Copper Wire and Tubing too reported 1.81% 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 3,000 per ton over the previous week to close at INR 443,000 per ton on 19^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 nominally during the week ended 19^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 Copper Radiators:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,194.50 per tonne as on 19^th January, 2023. The LME Copper Cash Settlement contract prices declined from $9,436.00 a day before to $9,190.00 per tonne.

The LME Copper stocks saw reduction over the previous day to close at 81,600 tonnes on 19^th January, 2023, as compared with 81,925 tonnes on 18^th January, 2023.

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