World Copper Scrap Market: Price Report- Jan. 6th, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (30^th December, 2022 to 5^th January, 2023) 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. A few categories recorded decline as well.

The biggest increase in prices over the prior week was witnessed in Scrap Electric Motors, whose prices edged higher from $0.36 per Lb to $0.37 per Lb. The other copper scrap varieties to record notable surge in prices include Cu Yokes and #2 Insulated Copper Wire 50% Recovery, which recorded price increases by 1.52% and 0.75% respectively.

The weekly price movement for Scrap Electric Motors is shown in the below graph:

The prices of #1 Insulated Copper Wire 85% Recovery, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Sealed Units, Starters and Xmas Lights recorded no change on Index.

Meantime, the prices of Cu/Al Radiators and Cu/Al Radiators/Fe dropped over the previous week.

USA East Coast Prices

The prices of most copper scrap categories witnessed marginal increase in the region. Scrap Electric Motors prices recorded biggest surge over the week, recording increase from $0.36 per Lb to $0.37 per Lb. A modest surge by 1.52% and 0.75% was seen in Cu Yokes and #2 Insulated Copper Wire 50% Recovery respectively over the week.

The scrap copper categories that recorded nominal increase in prices included #1 Insulated Copper Wire 85% Recovery, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Sealed Units, Starters and Xmas Lights.

The prices of Cu/Al Radiators/Fe declined the most, falling by 2.31% over the week. The variation in prices over the week is given in the below chart:

USA Midwest Prices

The copper scrap prices in the region mostly edged higher over the previous week. The top three gainers were Scrap Electric Motors, Cu Yokes and #2 Insulated Copper Wire 50% Recovery.

The Scrap Electric Motors prices ended the week at $0.36 per Lb, up from the previous week price of $0.35 per Lb. Also, Cu Yokes and #2 Insulated Copper Wire 50% Recovery prices surged over the previous week to close at $0.66 per Lb and $1.33 per Lb respectively.

The price chart for Copper Transformer Scrap for the week from 30^th December, 2022 to 5^th January, 2023 is provided below:

Meantime, Cu/Al Radiators and Cu/Al Radiators/Fe prices recorded marginal decline 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. Also, a few scrap commodities dropped over the week.

The scrap categories to record increase in prices week-on-week were #1 Copper Bare Bright, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing, #3-Copper Light Copper, Copper Radiators, Heater Cores, Scrap Electric Motors, Romex Wire, Harness Wire 35% Recovery, Cu Yokes and #2 Insulated Copper Wire 85% Recovery.

The chart provided below indicates the price change in Copper Radiators scrap during the week.

Meantime, prices of Cu/Al Radiators and Cu/Al Radiators/Fe fell over the week. 

China Prices

All copper scrap categories witnessed weekly price decline.

#2 Copper Wire and Tubing and #1 Copper Wire and Tubing recorded biggest dip in prices during the previous week.

The #2 Copper Wire and Tubing prices edged lower from CNY 61,350 per MT to CNY 59,350 per MT each. 

The weekly price chart of #2 Copper Wire and Tubing is provided below:

#1 Copper Wire and Tubing reported dip in prices by CNY 2,000 per MT, from CNY 62,350 per MT during the start of the week to end at $60,350 per MT.  #1 Insulated Copper Wire 85% Recovery too reported 3.12% decline in prices over the week.

India Prices

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

The copper sheet cutting scrap prices were down by INR 2,000 per ton over the previous week to close at INR 393,000 per ton on 5^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 declined during the week ended 5^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.

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,438.00 per tonne as on 5^th January, 2023. The LME Copper Cash Settlement contract prices increased from $8,209.00 a day before to $8,420.00 per tonne.

The LME Copper stocks saw reduction over the previous day to close at 87,775 tonnes on 5^th January, 2023, as compared with 88,575 tonnes on 4^th January, 2023.

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