Copper Scrap Prices: Weekly Market Report- December 13, 2024

The closing price of LME Copper 3-Month contract stood at USD 9,157.00 per tonne as of December 12, 2024.

SEATTLE (Scrap Monster):The below report provides an analysis of the weekly price trends of scrap copper across various regional markets during the past week (December 6 to December 12, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region displayed mixed trend.

Sealed Units saw the largest price increase over the previous week, going up from $0.36 per pound to $0.37 per pound.

The weekly price movement for Sealed Units is shown in the below graph:

The other copper scrap varieties to record increase in prices include Starters and Scrap Electric Motors, which recorded price increases by 2.70% and 2.17% respectively.

The prices of #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #1 Copper Bare Bright, #3 Copper- Light Copper, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, Romex Wire, and Cu Yokes also inched higher on the Index.

In the meantime, Xmas Lights, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Copper Radiators, Alternator, and Cu/Al Radiators recorded no variation from the previous day’s prices on the Scrap Monster Index.

USA East Coast Prices

The majority of copper scrap categories recorded increase in price in the region. However, the prices of a few commodities held steady during the week. Sealed Units prices recorded biggest increase over the week, recording a jump from $0.36 per Lb to $0.37 per Lb. A marginal rise of 2.70% and 2.17% was seen in Starters and Scrap Electric Motors respectively over the week.

The below chart displays the variation in prices of Starters over the previous week:

The other scrap copper category that recorded increase in prices was Harness Wire 35% Recovery, whose prices went higher from $1.47 per Lb a week before to $1.49 per Lb as of December 12, 2024.

The prices of #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #1 Copper Bare Bright, #3 Copper- Light Copper, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Heater Cores, Romex Wire, and Cu Yokes also reported increase on the Index.

In the meantime, the rest of the scrap varieties held steady over the week.

USA Midwest Prices

The copper scrap prices in the region mostly recorded increase over the previous week.

The top three gainers were Sealed Units, Starters and Scrap Electric Motors.

The Sealed Units prices ended the week at $0.36 per Lb, up from the previous week’s price of $0.35 per Lb. Also, Starters and Scrap Electric Motors prices increased over the previous week to close at $0.37 per Lb and $0.46 per Lb respectively.

#1 Insulated Copper Wire 85% Recovery posted the least increase over the week, recording a rise of 1.16% week-on-week.

Xmas Lights, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Copper Radiators, Alternator, and Cu/Al Radiators recorded no variation from the previous day’s 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 increase on the Index. However a few copper scrap categories reported no variation in prices.

The scrap category to increase the most was Sealed Units, whose prices recorded jump from $0.36 per Lb at the start of the week to $0.38 per Lb towards the end of the week, registering week-over-week surge by 5.56%. It was followed by Starters and Scrap Electric Motors, which recorded price increases by 2.70% and 2.13% respectively.

Also, Harness Wire 35% Recovery, #2 Insulated Copper Wire 50% Recovery and #1 Copper Wire and Tubing recorded notable weekly jump during the prior week ending on December 12, 2024.

The other scrap scrap categories to witness increase in price were #2 Copper Wire and Tubing, #1 Copper Bare Bright, #3 Copper- Light Copper, #1 Insulated Copper Wire 85% Recovery, Heater Cores, Romex Wire, and Cu Yokes

China Prices

All scrap categories in the region, except Scrap Electric Motors and Sealed Units displayed increase in prices when compared with the previous week.

#2 Copper Wire and Tubing recorded the largest increase during the previous week. The price of the commodity registered 1.38% jump week-on-week, rising from CNY 68,850 per MT to CNY 69,800 per MT. The weekly price chart of the commodity is provided below:

The prices of #1 Copper Wire and Tubing, and #1 Copper Bare Bright also were up by 1.36% and 1.29% respectively.

Also, the prices of #1 Insulated Copper Wire 85% Recovery, Heater Cores, Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Copper Transformers Scrap, Cu Yokes, and Harness Wire 35% Recovery jumped higher on the Index.

The commodity that recorded least increase in weekly prices was Copper Transformers Scrap, which were up by just 0.42% over the previous week.

India Prices

The scrap commodities in Indian market recorded increase from the previous week's price levels.

The copper sheet cutting scrap prices were up by 1.84% to end the week at INR 498,000 per Ton. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper utensil scrap, and Copper wire bars (HCL*) also witnessed marginal rise during the week ending December 12, 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 Radiators:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 9,157.00 per tonne as of December 12, 2024. The LME Copper Cash Settlement contract edged lower marginally from $9,077.00 a day before to $9,038.50 per tonne.

The LME Copper stocks declined marginally over the previous day to close at 268,425 tonnes as of December 12, 2024, when compared with 268,500 tonnes a day before.

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