Scrap Copper Prices: Weekly Report-Feb 3rd, 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 January, 2023 to 2^nd February, 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. A few prices recorded decline, while others maintained previous week’s price levels.

The biggest decline in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $3.82 per Lb to $3.70 per Lb. The other copper scrap varieties to record notable dip in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded substantial decline in prices by 3.06% and 2.99% respectively.

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

USA East Coast Prices

The prices of certain copper scrap categories witnessed marginal decline in the region. #3 Copper- Light Copper prices posted the biggest decline over the week.

The other scrap commodities that witnessed decline over the week were Cu Yokes, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Copper Radiators, #3 Copper-Light Copper, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #1 Copper Bare Bright.

#1 Insulated Copper Wire 85% Recovery registered the smallest decline in prices. The prices were down by 0.64% over the week. The weekly price chart of the commodity is provided below:

USA Midwest Prices

The prices of majority of copper scrap prices commodities in the region edged lower over the previous week. The top three losers 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 $3.61 per Lb, down from the previous week price of $3.73 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices declined over the previous week to close at $3.71 per Lb and $3.81 per Lb respectively.

The prices of Xmas Lights, Copper Transformer Scrap, Alternator, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends and Cu/Al Radiators held steady on Index.

USA West Coast Prices

The copper scrap metal prices in the region witnessed mixed trend week-on-week.

The scrap categories to record largest decline 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 Yokes, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire and Copper Radiatiors too were down when compared with the prior week.

China Prices

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

The weekly price chart of #2 Copper Wire and Tubing is provided below. The prices of the commodity recorded decline by 2.07%, falling from CNY 65,300 per MT to CNY 63,950 per MT during the week.

India Prices

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

The copper sheet cutting scrap prices were down by INR 5,000 per ton over the previous week to close at INR 460,000 per ton on 2^nd February, 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 decline over the week. The prices dropped from INR 791,000 per ton at the beginning of the week to end at INR 786,000 per ton.

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap and Copper utensil scrap too declined nominally during the week ended 2^nd February, 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 9,035.50 per tonne as on 2^nd February, 2023. The LME Copper Cash Settlement contract prices edged lower marginally from $9,175.00 a day before to $9,114.00 per tonne.

The LME Copper stocks saw substantial reduction over the previous day to close at 72,450 tonnes on 2^nd February, 2023, as compared with 74,375 tonnes on 1^st February, 2023.

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