Copper Scrap Prices: Weekly Market Report- September 12, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (September, 6 to September 12, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded mixed trend, when matched with the week before that. The prices of majority of the commodities edged higher, while the remaining maintained prior week’s price levels.

The biggest increase in prices over the prior week was witnessed in Romex Wire, whose prices edged higher from $1.61 per Lb to $1.67 per Lb. The other copper scrap varieties to record notable increase in prices include #1 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery, which recorded price increases by 3.68% and 3.62% respectively.

The weekly price movement for Romex Wire is shown in the below chart:

Meantime, the prices of Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Alternator, Sealed Units, Starters, and Xmas Lights recorded no change on the Index.

USA East Coast Prices

The prices of most copper scrap categories witnessed marginal jump in the region. Romex Wire prices posted the biggest increase over the week.

The prices of #1 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery too increased modestly over the week.

The weekly price chart of #1 Insulated Copper Wire 85% Recovery is provided below:

A slight increase in price was witnessed in #1 Copper Wire and Tubing, #1 Copper Bare Bright, #2 Copper Wire and Tubing, #3 Copper- Light Copper, #2 Insulated Copper Wire 50% Recovery, Heater Cores Cu Yokes, and Scrap Electric Motors.

Meantime, Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Alternator, Sealed Units, Starters, and Xmas Lights prices held steady over the week.

USA Midwest Prices

The prices of majority of copper scrap prices commodities in the region increased over the previous week.

The top three gainers were Romex Wire, #1 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery.

The Romex Wire prices ended the week at $1.66 per Lb, up from the previous week’s price of $0.60 per Lb. Also, #1 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery prices inched higher over the previous week to close at $1.68 per Lb and $1.42 per Lb respectively.

Also, marginal increase in price over the week were recorded in #1 Copper Wire and Tubing, #1 Copper Bare Bright, #2 Copper Wire and Tubing, #3 Copper- Light Copper, #2 Insulated Copper Wire 50% Recovery, Heater Cores Cu Yokes, and Scrap Electric Motors.

USA West Coast Prices

The copper scrap metal prices in the region witnessed mixed trend week-on-week.

The scrap categories to record notable increase in prices from the previous week were Romex Wire, #1 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery.

Romex Wire prices edged higher by 3.70% week-on-week. The prices of #1 Insulated Copper Wire 85% Recovery and Harness Wire 35% Recovery were up by 3.66% and 3.60% respectively.

The prices of Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Alternator, Sealed Units, Starters, and Xmas Lights were flat over the prior week.

China Prices

The copper scrap prices recorded increase over the previous week.

#2 Copper Wire and Tubing prices edged higher by 1.19% week-on-week to close at CNY 68,100 per MT during the week. The weekly price chart of the commodity for the week ending September 12, 2024 is given below:

The prices of #1 Copper Wire and Tubing also were up by 1.17%, when compared with the week before.

The #1 Copper Bare Bright prices recorded slight increase, rising from the previous week by 1.11% as of September 12, 2024.

All the other commodities such as #1 Insulated Copper Wire 85% Recovery, Heater Cores, Cu/Al Radiators, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Harness Wire 35% Recovery, Scrap Electric Motors, and Sealed Units also reported marginal increase in prices on the Index.

India Prices

The scrap commodities in Indian market recorded increase, upon comparison with the previous week.

The copper sheet cutting scrap prices recorded the biggest jump, increasing from INR 461,000 per Ton to INR 468,000 per Ton during the week. The weekly chart depicting the price movement in the commodity is provided below:

The prices of copper armature, copper heavy scrap and copper cable scrap also inched higher on the Scrap Monster Index. 

Also, the prices of Copper utensil scrap and Copper wire bars (HCL *) increased during the week ending September 12, 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 display the weekly price movement in Copper Tube:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 9,238.50 per tonne as of September 12, 2024. The LME Copper Cash Settlement contract prices increased marginally from $9,007.50 a day before to $9,115.50 per tonne.

The LME Copper stocks saw marginal decline over the previous day to close at 311,650 tonnes of September 12, 2024, when compared with 314,950 tonnes a day before.

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