Copper Scrap Prices: Weekly Market Report- November 15, 2024
The closing price of LME Copper 3-Month contract stood at USD 8,908.00 per tonne as of November 14, 2024.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (November 8 to November 14, 2024) on the Scrap Monster Price Index.
North America Prices
The copper scrap prices in the region displayed mixed trend.
#3 Copper- Light Copper saw the largest price decrease over the previous week, going down from $3.81 per pound to $3.60 per pound.
The weekly price movement for #3 Copper- Light Copper is shown in the below graph:
The other copper scrap varieties to record decline in prices include #2 Copper Wire and Tubing , #1 Copper Wire and Tubing and #1 Copper Bare Bright, which recorded price declines by 5.37%, 5.24% and 5.11% respectively.
The prices of #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire and Copper Radiators also registered week-on-week decline during the week ended November 14, 2024.
The prices of Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Alternator and Cu/Al Radiators held steady on the Index.
USA East Coast Prices
The majority of copper scrap categories recorded no change in price in the region. However, a few commodities saw dip in prices. #3 Copper- Light Copper prices recorded biggest drop over the week, recording a decline from $3.81 per Lb to $3.60 per Lb. A modest decline of 5.37% and 5.24% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.
The below chart displays the variation in prices of #2 Copper Wire and Tubing over the previous week:
The other scrap copper categories that recorded decline in prices were #1 Copper Bare Bright, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire and Copper Radiators.
In the meantime, all other scrap varieties held steady over the week.
USA Midwest Prices
The copper scrap prices in the region mostly declined 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 $3.50 per Lb, down from the previous week’s price of $3.71 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices declined over the previous week to close at $3.60 per Lb and $3.50 per Lb respectively.
#1 Insulated Copper Wire 85% Recovery posted the least decline over the week, falling by 1.73% week-on-week.
In the meantime, Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Alternator and Cu/Al Radiators witnessed no change in prices on the Index.
USA West Coast Prices
The copper scrap metal prices in the region was a mixed bag, with prices of most categories registering decline on the Index. However a few copper scrap categories held steady when matched with the previous week’s prices.
The scrap category to fall the most was #3 Copper- Light Copper, whose prices recorded decline from $3.88 per Lb at the start of the week to $3.67 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 declines by 5.28% and 5.15% respectively.
Also, #1 Copper Bare Bright recorded weekly dip, with prices falling from $4.18 per Lb during the prior week to $3.97 per Lb as of November 14, 2024.
China Prices
All of the copper scrap categories witnessed weekly price declines.
#2 Copper Wire and Tubing recorded the biggest dip in prices during the previous week.
The #2 Copper Wire and Tubing prices edged lower from CNY 71,300 per MT to CNY 67,450 per MT during the week.
#1 Copper Wire and Tubing reported dip in prices by CNY 3,850 per MT, falling from CNY 72,300 per MT during the start of the week to end at $68,450 per MT.
#1 Copper Bare Bright also reported 5.07% drop in prices over the week.
Also, Scrap Electric Motors, Sealed Units, Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Heater Cores and #1 Insulated Copper Wire 85% Recovery prices were down on the Index.
The weekly price chart of Harness Wire 35% Recovery, which reported the least weekly dip in prices, is provided below:
India Prices
The scrap commodities in Indian market recorded decrease from the previous week's price levels.
The copper sheet cutting prices plunged by INR 48,000 per Ton to INR 456,000 per Ton over the prior week. The weekly chart of the commodity is provided below:
The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap, and Copper wire bars (HCL*) too witnessed marginal increase during the week ending November 14, 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 were steady during the course of the week.
The chart provided below depicts the weekly price change in Copper Tubes:
LME Copper Market Update
The closing price of LME Copper 3-Month contract stood at USD 8,908.00 per tonne as of November 14, 2024. The LME Copper Cash Settlement contract inched lower marginally from $8,969.00 a day before to $8,768.00 per tonne.
The LME Copper stocks declined marginally over the previous day to close at 272,200 tonnes as of November 14, 2024, when compared with 273,100 tonnes a day before.
Scrap Metal Prices
| Copper Scrap | ||
| Alternator | 0.39 | $US/Lb |
| #1 Copper Bare Bright | 3.99 | $US/Lb |
| Aluminum Scrap | ||
| 356 Aluminum Wheels (Clean) | 0.74 | $US/Lb |
| 6061 Extrusions | 0.64 | $US/Lb |
| Steel Scrap | ||
| #1 Bundle | 360.00 | $US/MT |
| #1 Busheling | 380.00 | $US/MT |
| Electronics Scrap | ||