Copper Scrap Prices: Weekly Market Report- 9th June, 2023
The LME Copper Cash Settlement contract prices declined marginally from $8,352.00 a day before to $8,243.00 per tonne.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (2nd to 8th June, 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 $3.32 per Lb to $3.39 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 modest price increases by 2.05% and 1.99% respectively.
The weekly price movement for #3 Copper- Light Copper is shown in the below chart:
The prices of #1 Copper Bare Bright and Copper Radiators too increased modestly over the prior week.
Meantime, Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights witnessed no change in prices over the prior week.
USA East Coast Prices
The prices of certain copper scrap categories witnessed marginal increase in the region. #3 Copper- Light Copper prices posted the biggest surge over the week, recording increase from $3.32 per Lb to $3.39 per Lb.
A notable surge by 2.05% and 1.99% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
The other scrap copper category that recorded noteworthy jump in prices was #1 Copper Bare Bright, whose prices recorded week-on-week increase by 1.93%. Also, Copper Radiators edged higher marginally by 0.47% over the prior week.
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 $3.38 per Lb, up from the previous week price of $3.31 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.48 per Lb and $3.58 per Lb respectively.
The prices of #1 Copper Bare Bright and Copper Radiators too posted modest increase over the week.
USA West Coast Prices
The copper scrap metal prices in the region witnessed nominal jump week-on-week.
The scrap categories to record largest increase in prices from the previous week were #3 Copper- Light Copper, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and Copper Radiators.
Meantime, prices of Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights maintained prior week’s price levels.
China Prices
All copper scrap categories recorded increase on Index, when compared with the week before.
Sealed Units surged the most, rising by 0.72% from CNY 6,950 per MT at the start of the week to end the week at CNY 7,000 per MT.
The weekly price chart of Sealed Units is provided below:
The price of Scrap Electric Motors too rose by 0.70% week-on-week. The commodity saw its price edge higher from CNY 7,100 per MT to CNY 7,150 per MT. Also, #2 Copper Wire and Tubing prices were up by 0.66% on Index.
Meantime, the Cu/Al Radiators and #2 Insulated Copper Wire 50% Recovery prices recorded the least decline over the prior week.
India Prices
The scrap commodities in Indian market saw their prices edge higher over the prior week.
The copper wire bars (HCL*) scrap prices were up by INR 18,000 per ton over the previous week to close at INR 720,000 per ton on 8th June, 2023 on the Scrap Monster Index. The weekly chart depicting the price movement in the commodity is provided below:
The prices of Copper sheet cutting, copper armeture and copper heavy scrap recorded modest increase over the previous week.
The prices of Copper cable scrap and Copper utensil scrap too increased nominally during the week ended 8th June, 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 8,263.00 per tonne as on 8th June, 2023. The LME Copper Cash Settlement contract prices declined marginally from $8,352.00 a day before to $8,243.00 per tonne.
The LME Copper stocks registered decline over the previous day to close at 99,450 tonnes on 8th June, 2023, as compared with 100,100 tonnes on 7th June, 2023.
Scrap Metal Prices
| Copper Scrap | ||
| Alternator | 0.37 | $US/Lb |
| #1 Copper Bare Bright | 3.91 | $US/Lb |
| Aluminum Scrap | ||
| 356 Aluminum Wheels (Clean) | 0.73 | $US/Lb |
| 6061 Extrusions | 0.63 | $US/Lb |
| Steel Scrap | ||
| #1 Bundle | 360.00 | $US/MT |
| #1 Busheling | 380.00 | $US/MT |
| Electronics Scrap | ||