Copper Scrap Prices: Weekly Market Report- July 12th, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (5^th July, 2024 to 11^th July, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded decline across the board.

The biggest dip in prices over the prior week was witnessed in Xmas Lights, whose prices edged lower from $0.25 per Lb to $0.24 per Lb. The other copper scrap varieties to record notable decline in prices include #3 Copper- Light Copper, which recorded weekly decline in prices by 3.55%. The prices of #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright were down by 3.47%, 3.39% and 3.32% respectively.

The weekly price movement for Xmas Lights is shown in the below graph:

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiators/Fe, Cu/Al Radiators, Copper Radiators, #1 Insulated Copper Wire 85% Recovery and Heater Cores recorded minimal decline in prices, when matched with the week before.

USA East Coast Prices

The prices of all copper scrap categories except Cu Yokes witnessed remarkable decline in the region. Xmas Lights prices posted the biggest dip over the week, recording decline from $0.25 per Lb to $0.24 per Lb.

#3 Copper- Light Copper prices were down by 3.55% over the week, falling from $4.22 per Lb to $4.07 per Lb.

The variation in prices over the week for #3 Copper- Light Copper is given in the below chart:

A modest decline in prices were seen in #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright.

The other scrap copper categories that recorded noteworthy decline in prices included Alternator, Copper Transformer Scrap, Scrap Electric Motors, Sealed Units, Starters, Cu Yokes Harness Wire 35% Recovery and #2 Insulated Copper Wire 50% Recovery.

USA Midwest Prices

The copper scrap prices in the region recorded decline across the board.

The biggest dip in prices over the prior week was witnessed in Xmas Lights, whose prices edged lower from $0.24 per Lb to $0.23 per Lb. The other copper scrap varieties to record notable decline in prices include #3 Copper- Light Copper, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright. #3 Copper- Light Copper prices dipped by 3.57%, falling from $4.2 per Lb to $4.05 per Lb during the week.

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiators/Fe, Copper Radiators, #1 Insulated Copper Wire 85% Recovery and Romex Wire recorded lowest decline in prices, when matched with the week before.

USA West Coast Prices

The copper scrap metal prices in the region witnessed noticeable decline week-on-week.

The scrap categories to record biggest dip in prices from the previous week were Xmas Lights, #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright.

Also, Alternator, Copper Transformer Scrap, Scrap Electric Motors, Sealed Units, Starters, Cu Yokes Harness Wire 35% Recovery and #2 Insulated Copper Wire 50% Recovery recorded modest negative price variation during the week.

Meantime, marginal dip in prices were reported in Cu/Al Radiators, Cu/Al Radiators/Fe, Copper Radiators, #1 Insulated Copper Wire 85% Recovery and Romex Wire week-over-week. 

China Prices

Most of the copper scrap categories witnessed weekly price declines.

Heater Cores recorded the biggest dip in prices during the previous week.

The Heater Cores prices edged lower from CNY 32,300 per MT to CNY 32,100 per MT each. 

The weekly price chart of Heater Cores is provided below:

#2 Copper Wire and Tubings reported dip in prices by CNY 300 per MT, from CNY 74,000 per MT during the start of the week to end at $73,700 per MT. 

#1 Copper Wire and Tubing too reported 0.4% drop in prices over the week.

Meantime, Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors and Sealed Units prices were unchanged on Index.

India Prices

The scrap commodities in Indian market saw their prices edge lower over the prior week.

The copper sheet cutting scrap prices were down by INR 13,000 per ton over the previous week to close at INR 534,000 per ton on 11^th July, 2024 on the Scrap Monster Index. 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 too declined during the week ended 11^th July, 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 held steady during the course of the week.

The chart given below depicts the weekly price movement in #1 Insulated Copper Wire 85% Recovery:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,860.00 per tonne as on 11^th July, 2024. The LME Copper Cash Settlement contract prices declined marginally from $9,696.00 a day before to $9,693.50 per tonne.

The LME Copper stocks saw modest surge over the previous day to close at 206,775 tonnes on 11^th July, 2024, as compared with 195,475 tonnes on 10^th July, 2024.

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