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Market Reports December 30, 2022 10:30:39 AM

Weekly Market Wrap: Copper Scrap Prices - Dec. 30, 2022

Paul Ploumis
ScrapMonster Author
The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars too increased during the week ended 29th December, 2022.

Weekly Market Wrap: Copper Scrap Prices - Dec. 30, 2022

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (22nd December, 2022 to 29th December, 2022) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region displayed mixed trend, with some categories rising over the previous week, while others holding steady.

The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.36 per Lb to $3.43 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 price increases by 2.02% and 1.97% respectively.

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

 

The prices of Xmas Lights, Alternator, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap and Cu/Al Radiators recorded no change on Index.

USA East Coast Prices

The prices of most copper scrap categories witnessed marginal increase in the region. #3 Copper- Light Copper prices recorded biggest surge over the week, recording increase from $3.36 per Lb to $3.43 per Lb. A modest surge by 2.02% and 1.97% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.

The scrap copper categories that recorded nominal increase in prices included Copper Radiators, Harness Wire 35% Recovery, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Romex Wire and Heater Cores.

USA Midwest Prices

The copper scrap prices in the region mostly edged higher 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 $3.34 per Lb, up from the previous week price of $3.27 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.44 per Lb and $3.54 per Lb respectively.

The price chart for #2 Copper Wire and Tubing for the week from 22nd to 29th December is provided below:

Heater Cores prices recorded marginal increase over the week. 

USA West Coast Prices

The copper scrap metal prices in the region was a mixed bag, with prices of most categories registering week-on-week increase. However a few copper scrap categories remained unchanged upon comparison with the week before.

The scrap category to record the highest rise was #3 Copper- Light Copper, whose prices recorded increase from $3.37 per Lb at the start of the week to $3.44 per Lb towards the end of the week. It was followed by #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price increases by 2.02% and 1.96% respectively.

Meantime, the prices of Starters, Sealed Units, Scrap Electric Motors, Cu Yokes, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu/Al Radiators, Copper Transformer Scrap, Alternator and Xmas Lights remained unchanged on Index.

 

China Prices

All copper scrap categories witnessed weekly price surge.

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

The #1 Insulated Copper Wire 85% Recovery prices edged higher from CNY 30,150 per MT to CNY 30,500 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 650 per MT, from CNY 60,800 per MT during the start of the week to end at $61,450 per MT.  #1 Copper Wire and Tubing  too reported 1.05% decline in prices over the week.

India Prices

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

The copper sheet cutting scrap prices were up by INR 9,000 per ton over the previous week to close at INR 39,800 per ton on 29th December, 2022 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 29th December, 2022.

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 provided below depicts the weekly price change in Copper Tube scrap:

 

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,405.00 per tonne as on 29th December, 2022. The LME Copper Cash Settlement contract dipped lower from $8,451.00 a day before to $8,395.00 per tonne.

The LME Copper stocks surged over the previous day to close at 86,025 tonnes on 29th December, 2022, as compared with 81,400 tonnes on 28th December, 2022.

 

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