Copper Scrap Prices: Weekly Market Report- 23rd June, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (16^th to 22^nd 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 Copper Radiators, whose prices edged higher from $2.15 per Lb to $2.16 per Lb. The other copper scrap varieties to record notable surge in prices include #3 Copper- Light Copper and #2 Copper Wire and Tubing, which recorded marginal price increases by 0.29% and 0.28% respectively.

The weekly price movement for Copper Radiator scrap is shown in the below chart:

The prices of #1 Copper Bare Bright and #1 Copper Wire and Tubing too increased over the prior week.

Meantime, the prices of all other scrap copper commodities recorded no change when compared with the previous week.

The prices of Heater Cores, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Romex Wire, #1 Insulated Copper Wire 85% Recovery, Cu Yokes, Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights held steady  over the prior week.

USA East Coast Prices

The prices of certain copper scrap categories witnessed marginal increase in the region. Copper Radiators prices posted the biggest surge over the week, recording increase from $2.15 per Lb to $2.16 per Lb.

A notable surge by 0.29% and 0.28% was seen in #3 Copper- Light Copper and #2 Copper Wire and Tubing respectively over the week.

The weekly price chart of #3 Copper- Light Copper is provided below:

The other scrap copper category that recorded noteworthy jump in prices was #1 Copper Wire and Tubing, whose prices recorded week-on-week increase by 0.27%. Also, #1 Copper Bare Bright prices edged higher marginally by 0.26% 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 Copper Radiators, #3 Copper- Light Copper and #2 Copper Wire and Tubing.

The Copper Radiators prices ended the week at $2.15 per Lb, up from the previous week price of $2.14 per Lb. Also, #3 Copper- Light Copper and #2 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 #1 Copper Wire and Tubing 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 Copper Radiators, #3 Copper- Light Copper and #2 Copper Wire and Tubing.

Meantime, prices of Heater Cores, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Romex Wire, #1 Insulated Copper Wire 85% Recovery, Cu Yokes, Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights maintained prior week’s price levels.

China Prices

All copper scrap categories, except Scrap Electric Motors and Sealed Units recorded increase on Index, when compared with the week before.

#2 Copper Wire and Tubing surged the most, rising by 0.56% from CNY 62,600 per MT at the start of the week to end the week at CNY 62,950 per MT.

The weekly price chart of #2 Copper Wire and Tubing is provided below:

The price of #1 Copper Wire and Tubing too rose by 0.55% week-on-week. The commodity saw its price edge higher from CNY 63,600 per MT to CNY 63,950 per MT. Also, #1 Copper Bare Bright prices were up by 0.52% on Index.

Meantime, the Cu/Al Radiators and #2 Insulated Copper Wire 50% Recovery prices recorded the least decline over the prior week, falling by 0.2% each.

India Prices

The scrap commodities in Indian market saw their prices holding steady over the prior week.

The prices of Copper armeture were flat at INR 708,000 per Ton over the week. The weekly chart depicting the price movement in the commodity is provided below:

The prices of Copper cable scrap, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap and Copper wire bars (HCL*) too increased nominally during the week ended 22^nd 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 Copper Dry Bright:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,668.00 per tonne as on 22^nd June, 2023. The LME Copper Cash Settlement contract prices increased marginally from $8,490.00 a day before to $8,670.50 per tonne.

The LME Copper stocks registered notable decline over the previous day to close at 80,400 tonnes on 22^nd June, 2023, as compared with 84,725 tonnes on 21^st June, 2023.

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