Copper Scrap Prices: Weekly Market Report- September 20, 2024

The closing price of LME Copper 3-Month contract stood at USD 9,534.00 per tonne as of September 19, 2024.

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (September, 13 to September 19, 2024) 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. The prices of majority of the commodities edged higher, while the remaining maintained prior week’s price levels.

#3 Copper- Light Copper saw the most price gain over the previous week, going up from $3.77 per pound to $3.90 per pound. Another two copper scrap kinds that saw significant price rises were #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, at 3.36% and 3.27%, respectively.

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

Meantime, the prices of Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, and Xmas Lights recorded no change on the Index.

USA East Coast Prices

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

The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing too increased modestly over the week.

There was no change during the week in the following: Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, and Xmas Lights.

The weekly price chart of Copper Transformer Scrap is provided below:

Meanwhile, a slight increase in price was witnessed in #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, Copper Radiators, Romex Wire, #2 Insulated Copper Wire 50% Recovery, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Cu Yokes, Scrap Electric Motors, Sealed Units, and Starters.

USA Midwest Prices

The prices of majority of copper scrap prices commodities in the region increased 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 price of #3 Copper—Light Copper increased from $3.67 per pound to $3.80 per pound by the conclusion of the week. Additionally, the prices of #1 and #2 Copper Wire and Tubing increased slightly from the previous week to close at $4.00 and $3.90 per pound, respectively.

Also, marginal increase in price over the week were recorded in #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, Copper Radiators, Romex Wire, #2 Insulated Copper Wire 50% Recovery, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Cu Yokes, Scrap Electric Motors, Sealed Units, and Starters.

USA West Coast Prices

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

Three scrap categories saw significant price increases from the previous week: #2 Copper Wire and Tubing, #1 Copper Wire and Tubing, and #3 Copper-Light Copper.

#3 Copper- Light Copper prices edged higher by 3.39% week-on-week. The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing were up by 3.30% and 3.22% respectively.

The prices of Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, and Xmas Lights were flat over the prior week.

China Prices

The copper scrap prices recorded increase over the previous week.

#2 Copper Wire and Tubing prices edged higher by 2.49% week-on-week to close at CNY 69,950 per MT during the week. The weekly price chart of the commodity for the week ended September 19, 2024 is given below:

The prices of #1 Copper Wire and Tubing too were up by 2.45%, when compared with the week before.

As of September 19, 2024, the #1 Insulated Copper Wire 85% Recovery price has increased by 2.36% over the previous week.

All the other commodities such as #1 Copper Bare Bright, Heater Cores, Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units too reported marginal increase in prices on the Index.

India Prices

The scrap commodities in Indian market recorded increase, upon comparison with the prior week.

Copper sheet cutting scrap prices increased the most this week, jumping from INR 467,000 to INR 484,000 per ton. Copper armature and copper heavy scrap values increased somewhat on the Scrap Monster Index.

The weekly chart depicting the price movement in Copper heavy scrap is provided below:

The prices of Copper cable scrap, Copper utensil scrap and Copper wire bars (HCL *) too were up marginally during the week ended September 19, 2024.

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

The closing price of LME Copper 3-Month contract stood at USD 9,534.00 per tonne as of September 19, 2024. The LME Copper Cash Settlement contract prices increased marginally from $9,289.00 a day before to $9,405.50 per tonne.

The LME Copper stocks saw marginal decline over the previous day to close at 304,925 tonnes on September 19, 2024, as compared with 305,250 tonnes on September 18, 2024.

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