Copper Scrap Prices: Weekly Market Report- December 27, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (December 20 to December 26, 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 increase over the previous week, going up from $3.61 per pound to $3.64 per pound.

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

The other copper scrap varieties to record jump in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price increases by 0.81% and 0.79% respectively.

The prices of #1 Copper Bare Bright and Copper Radiators also edged higher on the Index.

The rest of the copper scrap varieties held steady over the previous week.

USA East Coast Prices

Majority of the copper scrap categories recorded no change in price in the region. However, the rest of the commodities saw increase in prices. #3 Copper- Light Copper prices recorded biggest increase over the week, recording a jump from $3.61 per Lb to $3.64 per Lb. A marginal jump of 0.81% and 0.79% 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 increase in prices was #1 Copper Bare Bright, whose prices went higher from $3.91 per Lb a week before to $3.94 per Lb as of December 26, 2024. Also, Copper Radiators prices were up by 0.39% week-on-week.

In the meantime, all other scrap varieties held steady over the week. These include Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Romex Wire, Heater Cores, Harness Wire 35% Recovery Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery Alternator, and Cu/Al Radiators.

USA Midwest Prices

The copper scrap prices in the region was a mixed bag 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 #3 Copper- Light Copper prices ended the week at $3.54 per Lb, up from the previous week’s price of $3.51 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices increased over the previous week to close at $3.64 per Lb and $3.74 per Lb respectively.

#1 Copper Bare Bright prices were down by 0.79%. Also, Copper Radiators prices ended the week at $2.59 per Lb, recording a jump of 0.39% over the prior week.

All the remaining scrap varieties recorded no variation in prices on the Index over the week.

USA West Coast Prices

The copper scrap metal prices in the region recorded mixed trend, with prices of most categories registering no variation on the Index. However a few copper scrap categories recorded jump in prices.

The scrap category to rise the most was #3 Copper- Light Copper, whose prices recorded increase from $3.73 per Lb at the start of the week to $3.76 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 increases by 0.78% and 0.76% respectively.

Also, #1 Copper Bare Bright recorded weekly jump, with prices registering increase from $4.032 per Lb during the prior week to $4.06 per Lb as of December 26, 2024.

The prices of Copper Radiators also reported an increase of 0.38%, closing the week at $2.61 per Lb on the Index.

Meanwhile, the prices of Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Romex Wire, Heater Cores, Harness Wire 35% Recovery Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery Alternator, and Cu/Al Radiators recorded no variation during the week.

China Prices

Majority of scrap categories in the region displayed no variation in prices when compared with the previous week. However, a few recorded jump in prices.

#1 Copper Wire and Tubing and #2 Copper Wire and Tubing recorded the largest increase during the previous week. The prices of these commodities registered 0.29% increase each week-on-week, to close at CNY 69,350 per MT and CNY 68,350 per MT respectively on the Index.

The prices of #1 Insulated Copper Wire 85% Recovery and #1 Copper Bare Bright also were up by 0.28% and 0.27% respectively.

Also, the prices of #2 Insulated Copper Wire 50% Recovery and Cu/Al Radiators increased by 0.20% and 0.19% respectively on the Index.

The weekly price chart of Cu/Al Radiators is provided below:

Meanwhile, Copper Transformers Scrap, Cu Yokes, Harness Wire 35% Recovery, Heater Cores, Scrap Electric Motors, and Sealed Units prices were flat on the Index.

India Prices

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

The copper sheet cutting scrap prices recorded the biggest jump, jumping higher by 6.07% to close at INR 4890,000 per Ton as of December 26, 2024. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper utensil scrap, and Copper wire bars (HCL*) also recorded increase during the week ending December 26, 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 Dry Bright:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 8,962.00 per tonne as of December 24, 2024. The LME Copper Cash Settlement contract edged higher marginally from $8,838.00 a day before to $8,847.50 per tonne.

The LME Copper stocks increased marginally to 272,725 tonnes as of December 24, 2024, when compared with 272,425 tonnes the day before.

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