Copper Scrap Prices: Weekly Market Report- July 19th, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (12^th July, 2024 to 19^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 $0.24 per Lb to $0.22 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 7.95%. The prices of #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright were down by 7.76%, 7.59% and 7.42% respectively.

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

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Cu/Al Radiators, #2 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery recorded minimal decline in prices, when matched with the week before.

USA East Coast Prices

The prices of all copper scrap categories witnessed remarkable decline in the region. Xmas Lights prices posted the biggest dip over the week, recording decline from $0.24 per Lb to $0.22 per Lb.

#3 Copper- Light Copper prices were down by 7.95% over the week, falling from $4.15 per Lb to $3.82 per Lb.

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

A significant 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, #1 Insulated Copper Wire 85% Recovery, Copper Transformer Scrap, Scrap Electric Motors, Sealed Units, Starters, Heater Cores, Romex Wires and Copper Radiators.

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 $0.23 per Lb to $0.21 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 7.99%, falling from $4.13 per Lb to $3.80 per Lb during the week.

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Cu/Al Radiators, #2 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery 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, #1 Insulated Copper Wire 85% Recovery, Copper Transformer Scrap, Scrap Electric Motors, Sealed Units, Starters, Heater Cores, Romex Wires and Copper Radiators recorded modest negative price variation during the week.

Meantime, marginal dip in prices were reported in Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Cu/Al Radiators, #2 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery week-over-week. 

China Prices

Most of the copper scrap categories witnessed weekly price declines.

#2 Copper Wire and Tubing recorded the biggest dip in prices during the previous week.

The #2 Copper Wire and Tubing prices edged lower from CNY 72,800 per MT to CNY 72,400 per MT each. 

The weekly price chart of #2 Copper Wire and Tubing is provided below:

#1 Copper Wire and Tubing reported dip in prices by CNY 400 per MT, from CNY 73,800 per MT during the start of the week to end at $73,400 per MT. 

#1 Copper Bare Bright too reported 0.51% drop in prices over the week.

Meantime, #1 Insulated Copper Wire 85% Recovery, 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 27,000 per ton over the previous week to close at INR 500,000 per ton on 18^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 18^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 Braziery Copper:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 9,485.00 per tonne as on 18^th July, 2024. The LME Copper Cash Settlement contract prices declined marginally from $9,533.00 a day before to $9,342.00 per tonne.

The LME Copper stocks saw modest surge over the previous day to close at 227,425 tonnes on 18^th July, 2024, as compared with 221,100 tonnes on 17^th July, 2024.

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