Copper Scrap Prices: Weekly Market Report- October 25, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (October 18 to October 24, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region displayed mixed trend.

Cu/Al Radiators/Fe saw the largest price decrease over the previous week, going down from $1.53 per pound to $1.50 per pound.

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

The other copper scrap varieties to record decline in prices include Cu/Al Radiators and #3 Copper-Light Copper, which recorded price declines by 1.72% and 0.51% respectively.

The prices of Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Alternator, and Romex Wire were flat on the Index.

Heater Cores, Harness Wire 35% Recovery, Copper Radiators, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery prices were unchanged on the Index.

USA East Coast Prices

The majority of copper scrap categories recorded no change in price in the region. However, a few commodities saw dip in prices. Cu/Al Radiators/Fe prices recorded biggest drop over the week, recording a decline from $1.53 per Lb to $1.50 per Lb. A marginal decline of 1.72% and 0.51% was seen in Cu/Al Radiators and #3 Copper- Light Copper respectively over the week.

The below chart displays the variation in prices of Cu/Al Radiators over the previous week:

The other scrap copper category that recorded nominal decline in prices was #2 Copper Wire and Tubing, whose prices were down from $3.99 per Lb a week before to $3.97 per Lb as of October 24, 2024. Price declines were seen in #1 Copper Wire and Tubing and #1 Copper Bare Bright.

Meanwhile, 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 losers were Cu/Al Radiators/Fe, Cu/Al Radiators and #3 Copper- Light Copper.

The Cu/Al Radiators/Fe prices ended the week at $1.48 per Lb, down from the previous week’s price of $1.51 per Lb. Also, Cu/Al Radiators and #3 Copper- Light Copper prices declined over the previous week to close at $1.69 per Lb and $3.77 per Lb respectively.

#1 Copper Bare Bright posted the least decline over the week, falling by 0.49% week-on-week.

Meantime, all other copper scrap varieties including Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap, Alternator, Romex Wire, Heater Cores, Harness Wire 35% Recovery, Copper Radiators, #2 Insulated Copper Wire 50% Recovery, and #1 Insulated Copper Wire 85% Recovery  witnessed no change 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 decline in prices.

The scrap category to fall the most was Cu/Al Radiators/Fe, whose prices recorded decline from $1.55 per Lb at the start of the week to $1.52 per Lb towards the end of the week. It was followed by Cu/Al Radiators and #3 Copper- Light Copper, which recorded price declines by 1.70% and 0.51% respectively.

Also, #2 Copper Wire and Tubing recorded weekly dip, with prices falling from $4.06 per Lb during the prior week to $4.04 per Lb as of October 24, 2024.

#2 Copper Wire and Tubing and #1 Copper Bare Bright also were down on the Index.

All other copper scrap categories remained flat.

China Prices

A few categories of copper scrap held steady on the Index. Some displayed increase in prices when compared with the previous week, while others registered week-on-week decline.

#2 Insulated Copper Wire 50% Recovery recorded the largest decline during the previous week. The price of the commodity registered 0.20% decline week-on-week, falling from CNY 25,200 per MT to CNY 25,150 per MT.

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

The prices of Cu/Al Radiators, #1 Insulated Copper Wire 85% Recovery, #1 Copper Bare Bright, #1 Copper Wire and Tubing, and #2 Copper Wire and Tubing also were down on the Index.

In the meantime, Copper Transformer Scrap, Cu Yokes, and Harness Wire 35% Recovery prices edged higher on the Index.

On the other hand, Heater Cores, Scrap Electric Motors, and Sealed Units were unchanged over the week.

India Prices

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

The copper sheet cutting prices declined by INR 24,000 per Ton to INR 466,000 per Ton over the prior week. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap, and Copper wire bars (HCL*) too witnessed marginal decline during the week ending October 24, 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 Braziery Copper:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 9,560.00 per tonne as of October 24, 2024. The LME Copper Cash Settlement contract inched higher marginally from $9,364.00 a day before to $9,413.00 per tonne.

The LME Copper stocks declined marginally over the previous day to close at 278,325 tonnes as of October 24, 2024, when compared with 279,625 tonnes a day before.

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