Copper Scrap Prices: Weekly Market Report- December 6, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (November, 29 to December 5, 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 $3.65 per pound to $3.70 per pound.

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

The other copper scrap varieties to record increase in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price increases by 1.33% and 1.30% respectively.

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

In the meantime, Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Romex Wire, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, #1 Insulated Copper Wire 85% Recovery, 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 no change in price in the region. However, a few commodities saw jump in prices. #3 Copper- Light Copper prices recorded biggest increase over the week, recording a jump from $3.65 per Lb to $3.70 per Lb. A marginal rise of 1.33% and 1.30% 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 $3.95 per Lb a week before to $4.00 per Lb as of December 5, 2024.

The prices of Copper Radiators, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, and Heater Cores also reported increase 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 mostly remained flat 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 $3.60 per Lb, up from the previous week’s price of $3.55 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices increased over the previous week to close at $3.70 per Lb and $3.80 per Lb respectively.

Heater Cores posted the least increase over the week, recording a rise of 0.64% week-on-week.

Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Romex Wire, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, #1 Insulated Copper Wire 85% Recovery, 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 rise in prices.

The scrap category to increase the most was #3 Copper- Light Copper, whose prices recorded jump from $3.72 per Lb at the start of the week to $3.77 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 1.31% and 1.28% respectively.

Also, #1 Copper Bare Bright recorded weekly jump, with prices increasing from $4.02 per Lb during the prior week to $4.07 per Lb as of December 5, 2024.

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

All other scrap categories stayed steady over the week.

China Prices

All scrap categories in the region 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 0.95% jump week-on-week, rising from CNY 68,200 per MT to CNY 68,850 per MT.

The prices of #1 Copper Wire and Tubing, and #1 Copper Bare Bright also were up by 0.94% and 0.89% respectively.

Meanwhile, 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, Harness Wire 35% Recovery, Scrap Electric Motors, and Sealed Units jumped higher on the Index.

The commodities that recorded least increase in weekly prices were Cu Yokes and Harness Wire, which were up 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 5, 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 9,084.00 per tonne as of December 5, 2024. The LME Copper Cash Settlement contract edged higher marginally from $8,951.00 a day before to $8,967.00 per tonne.

The LME Copper stocks increased marginally over the previous day to close at 270,525 tonnes as of December 5, 2024, when compared with 268,500 tonnes a day before.

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