Copper Scrap Prices: Weekly Market Wrap-Up- 5th December, 2022

#1 Insulated Copper Wire 85% Recovery and #2 Copper Wire and Tubing prices gained the most during the previous week.

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper markets across the globe during the past week (25^th November, 2022 to 1^st December, 2022) on the Scrap Monster Price Index.

North America Prices

The biggest jump in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.21 per Lb to $3.39 per Lb. The other copper scrap varieties to record notable increase in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded surge in prices by 5.44% and 5.28% respectively.

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

USA East Coast Prices

The copper scrap prices sustained rising trend in the region. #3 Copper- Light Copper prices recorded biggest increase over the week, registering surge from $3.21 per Lb to $3.39 per Lb. A substantial surge by 5.44% and 5.28% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing over the week.

The scrap copper categories that recorded nominal increase in prices included Heater Cores, Romex Wire, #2 Insulated Copper Wire 50% Recovery and Cu Yokes.

USA Midwest Prices

The copper scrap prices in the region mostly 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 $3.30 per Lb, up from the previous week price of $3.12 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices increased over the previous week to $3.40 per Lb and $3.50 per Lb respectively.

USA West Coast Prices

The copper scrap metal prices in the region gained strength, with prices of most categories registering week-on-week increase.

The scrap category to rally the most was #3 Copper- Light Copper, whose prices recorded surge from $3.22 per Lb at the start of the week to $3.40 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 5.42% and 5.26% respectively.

Meantime, prices of Heater Cores, Romex Wire, #2 Insulated Copper Wire 50% Recovery and Cu Yokes witnessed marginal increases over the week.

China Prices

#1 Insulated Copper Wire 85% Recovery and #2 Copper Wire and Tubing prices gained the most during the previous week.

The #1 Insulated Copper Wire 85% Recovery jumped higher from CNY 29,850 per MT to CNY 30,250 per MT each. 

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

#2 Copper Wire and Tubing recorded a jump in price by CNY 700 per MT, from CNY 60,300 per MT during the start of the week to end the week at $61,000 per MT.  #1 Copper Wire and Tubing too reported 1.14% surge in prices over the week.

The copper scrap categories that recorded nominal increase in prices over the previous week included Cu Yokes, Harness Wire 35% Recovery, Copper Transformer Scrap, Scrap Electric Motors and Sealed Units.

India Prices

The commodity to register biggest change in prices was Copper sheet cutting, the prices of which surged to INR 360,000 per ton towards the end of the week, as compared with INR 350,000 per ton at the beginning of the week, as shown in the below chart.

A strong jump in prices by 1.51% was recorded in Copper heavy scrap prices too.

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 ended the week unchanged.

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,364.00 per tonne as on 2^nd December, 2022. The LME Copper Cash Settlement contract surged higher from $8,216.50 a day before to $8,342.00 per tonne.

The LME Copper stocks declined over the previous day to close at 87,450 tonnes on 2^nd December, 2022, as compared with 88,275 tonnes on 1^st December, 2022.

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