Copper Scrap Prices: Weekly Market Report- January 3, 2025

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (December 27, 2024 to January 2, 2025) 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 decline over the previous week, going down from $3.64 per pound to $3.49 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 Xmas Lights, which recorded price declines by 4.01% and 4% respectively.

The prices of #1 Copper Wire and Tubing and #1 Copper Bare Bright also edged lower on the Index.

The rest of the copper scrap varieties, except Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe, registered decline over the previous week.

USA East Coast Prices

Majority of the copper scrap categories recorded decline in price in the region. 

#3 Copper- Light Copper prices recorded the biggest dip over the week, witnessing a decline from $3.64 per Lb to $3.49 per Lb. A notable decline of 4.01% and 4% was seen in #2 Copper Wire and Tubing and Xmas Lights 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 noteworthy fall in prices was #1 Copper Wire and Tubing, whose prices went lower from $3.84 per Lb a week before to $3.69 per Lb as of January 2, 2025. Also, #1 Copper Bare Bright prices were down by 3.81% week-on-week.

The other copper scrap varieties to record weekly decline in prices include Scrap Electric Motors, Alternator, Copper Transformer Scrap, Cu Yokes, Sealed Units, Starters, Xmas Lights, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Heater Cores, Romex Wire, and Copper Radiators.

In the meantime, Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe prices held steady on the Index.

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, Xmas Lights, and #2 Copper Wire and Tubing.

The #3 Copper- Light Copper prices ended the week at $3.39 per Lb, down from the previous week’s price of $3.54 per Lb. Also, Xmas Lights, and #2 Copper Wire and Tubing prices decreased over the previous week to close at $0.23 per Lb and $3.49 per Lb respectively.

#2 Copper Wire and Tubing prices were down by 4.12%. Also, #1 Copper Bare Bright prices ended the week at $3.69 per Lb, recording a fall of 3.91% over the prior week.

All the remaining scrap varieties, except Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe, registered decline over the previous week. 

USA West Coast Prices

The copper scrap metal prices in the region recorded mixed trend, with prices of most categories registering decline on the Index. However a few copper scrap categories were flat over the previous week.

The scrap category to decline the most was Xmas Lights, whose prices recorded decrease from $0.25 per Lb at the start of the week to $0.24 per Lb towards the end of the week. It was followed by #3 Copper- Light Copper and #2 Copper Wire and Tubing, which recorded price decreases by 3.99% and 3.89% respectively.

Also, #1 Copper Wire and Tubing recorded weekly decline, with prices registering fall from $3.96 per Lb during the prior week to $3.81 per Lb as of January 2, 2025.

The prices of #1 Copper Bare Bright also reported a decline of 3.69%, closing the week at $3.91 per Lb on the Index.

Meanwhile, the prices of Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe recorded no variation during the week.

China Prices

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

Heater Cores and #2 Copper Wire and Tubing recorded the largest decline during the previous week. The prices of Heater Cores and #2 Copper Wire and Tubing registered 1.18% and 1.17% decline respectively week-on-week, to close at CNY 29,250 per MT and CNY 67,600 per MT respectively on the Index.

The weekly price chart of Heater Cores is provided below:

The prices of #1 Copper Wire and Tubing and #1 Insulated Copper Wire 85% Recovery also were down by 1.15% and 1.11% respectively.

Also, the prices of Copper Transformers Scrap, Cu Yokes, Harness Wire 35% Recovery, Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery and #1 Copper Bare Bright also declined on the Index.

Meanwhile, Scrap Electric Motors, and Sealed Units prices were flat on the Index.

India Prices

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

The copper sheet cutting scrap prices recorded the biggest fall, edging lower by 1.91% to close at INR 4610,000 per Ton as of January 2, 2025. 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 decline during the week ending January 2, 2025.

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 8,795.00 per tonne as of January 2, 2025. The LME Copper Cash Settlement contract edged lower marginally from $8,706.00 a day before to $8,685.50 per tonne.

The LME Copper stocks decreased marginally to 271,350 tonnes as of January 2, 2025, when compared with 271,400 tonnes the day before.

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