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

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (December 13 to December 19, 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 $3.70 per pound to $3.59 per pound.

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

The other copper scrap varieties to record dip in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price declines by 2.89% and 2.82% respectively.

The prices of #1 Copper Bare Bright, Copper Radiators, Romex Wire, Heater Cores, Harness Wire 35% Recovery, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery also inched lower on the Index.

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 recorded no variation from the previous day’s prices on the Scrap Monster Index.

USA East Coast Prices

A few of the copper scrap categories recorded no change in price in the region. However, the rest of the commodities saw decline in prices. #3 Copper- Light Copper prices recorded biggest dip over the week, recording a fall from $3.70 per Lb to $3.59 per Lb. A marginal decline of 2.89% and 2.82% 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 category that recorded nominal decline in prices was #1 Copper Bare Bright, whose prices went lower from $4.00 per Lb a week before to $3.89 per Lb as of December 19, 2024.

The prices of Copper Radiators, Romex Wire, Heater Cores, Harness Wire 35% Recovery, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery also reported decline on the Index.

In the meantime, all other scrap varieties held steady over the week.

USA Midwest Prices

The copper scrap prices in the region was a mixed bag 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 $3.49 per Lb, down from the previous week’s price of $3.60 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices decreased over the previous week to close at $3.59 per Lb and $3.69 per Lb respectively.

Copper Radiators and #1 Insulated Copper Wire 85% Recovery posted the least decline over the week, each falling by 1.15% week-on-week.

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 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 no variation on the Index. However a few copper scrap categories recorded decline in prices.

The scrap category to drop the most was #3 Copper- Light Copper, whose prices recorded fall from $3.82 per Lb at the start of the week to $3.71 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 2.81% and 2.74% respectively.

Also, #1 Copper Bare Bright recorded weekly drop, with prices registering decline from $4.12 per Lb during the prior week to $4.01 per Lb as of December 19, 2024.

The prices of Copper Radiators, Romex Wire, Heater Cores, Harness Wire 35% Recovery, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery also were up on the Index.

All other scrap categories stayed steady over the week.

China Prices

All scrap categories in the region displayed drop in prices when compared with the previous week.

#2 Copper Wire and Tubing recorded the largest decline during the previous week. The price of the commodity registered 1.3% dip week-on-week, falling from CNY 69,050 per MT to CNY 68,150 per MT.

The prices of #1 Copper Wire and Tubing, and #1 Insulated Copper Wire 85% Recovery also were down by 1.28% and 1.24% respectively.

Also, the prices of #1 Copper Bare Bright, Heater Cores, Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Copper Transformers Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors, and Sealed Units edged lower on the Index.

The commodities that recorded least decrease in weekly prices were Cu Yokes and Harness Wire, which were down by 0.29% each. The weekly price chart of Harness Wire 35% Recovery is provided below:

India Prices

The scrap commodities in Indian market recorded no change from the previous week's price levels.

The copper heavy scrap prices were unchanged at INR 800,000 per Ton over the previous week. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper sheet cutting, Copper utensil scrap, and Copper wire bars (HCL*) also were flat during the week ending December 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 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 8,915.00 per tonne as of December 19, 2024. The LME Copper Cash Settlement contract edged lower marginally from $8,905.50 a day before to $8,795.50 per tonne.

The LME Copper stocks held steady at 272,325 tonnes as of December 19, 2024, when compared with the day before.

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