Copper Scrap Prices: Weekly Market Report- May 31st, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (24^th May to 30^th May, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region mostly remained unchanged. A few scrap categories recorded surge over the prior week. Also, some witnessed decline over the previous week.

The biggest increase in prices over the prior week was witnessed in Cu/Al Radiators/Fe, whose prices edged higher from $1.46 per Lb to $1.49 per Lb.

The weekly price movement for Cu/Al Radiators/Fe is shown in the below graph:

The other copper scrap varieties to record notable increase in prices include Cu/Al Radiators and Romex Wire, which recorded price surge by 1.80% and 0.61% respectively.

The prices of Copper Transformer Scrap, Heater Cores, Xmas Lights, #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper recorded decline over the week.

Meantime, all other scrap copper categories witnessed no change in prices over the week.

USA East Coast Prices

The prices of most copper scrap categories witnessed no change upon comparison with the prior week.

Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Cu Yokes, Harness Wire 35% Recovery, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Cu/Al Radiator Ends prices were flat on Index.

A few categories posted remarkable decline in the region. Xmas Lights prices posted the biggest dip over the week, recording decline of 3.70% from $0.27 per Lb to $0.26 per Lb.

The below graph depicts the price movement in Xmas Lights over the previous week:

The only scrap categories that posted surge in prices over the week were Cu/Al Radiators and Cu/Al Radiators/Fe.

USA Midwest Prices

The copper scrap prices in the region recorded mixed trend.

The biggest increase in prices over the prior week was witnessed in Cu/Al Radiators/Fe, whose prices edged higher from $1.44 per Lb to $1.47 per Lb. The prices of the commodity were up by 2.08% week-on-week. Also, Cu/Al Radiator prices edged higher by 1.82% on Index during the week ended 30^th May, 2024.

The scrap copper categories to post weekly dip in prices were Heater Cores, Copper Transformer Scrap, Xmas Lights, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #3 Copper- Light Copper and #1 Copper Bare Bright.

USA West Coast Prices

The prices of most of the copper scrap metal varieties in the region witnessed no change over the week.

#1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Cu Yokes, Harness Wire 35% Recovery, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Cu/Al Radiator Ends prices were flat on Index.

Only two categories- Cu/Al Radiators and Cu/Al Radiators/Fe witnessed price surge over the week.

Meantime, Heater Cores, Copper Transformer Scrap, Xmas Lights, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing, #3 Copper- Light Copper and #1 Copper Bare Bright prices were down on Index.

China Prices

The prices of copper scrap categories witnessed decline over the week.

#2 Insulated Copper Wire 50% Recovery prices declined the most. The prices of the commodity recorded weekly decline by 2.87%, falling from CNY 27,850 per MT to CNY 27,050 per MT during the previous week.

The weekly price chart of #2 Insulated Copper Wire 50% Recovery is provided below:

The other prominent losers over the previous week were Cu/Al Radiators and #2 Copper Wire and Tubing.

The prices of all other copper scrap categories too recorded decline upon comparison with the previous week.

India Prices

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

The copper sheet cutting prices recorded largest decline, registering fall by 3.22% over the week. The prices of the commodity dropped from INR 559,000 per Ton to INR 541,000 per Ton. The weekly chart of the commodity is provided below:

The prices of Copper armeture, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars too registered week-on-week decline during the week ended 30^th May, 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 Copper Dry Bright:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 10,144.00 per tonne as on 30^th May, 2024. The LME Copper Cash Settlement contract prices declined modestly from $10,294.00 a day before to $10,016.50 per tonne. LME Copper stocks saw marginal increase over the day, rising from levels of 117,300 tonnes a day before to 118,125 tonnes as on 30^th May, 2024.

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