Copper Scrap Prices: Weekly Market Report- September 27, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (September, 20 to September 26, 2024) on the Scrap Monster Price Index.

North America Prices

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

The biggest increase in prices over the prior week was witnessed in Xmas Lights, whose prices edged higher by 8% from $0.25 per Lb to $0.27 per Lb. The other copper scrap varieties to record notable increase in prices include #3 Copper- Light Copper, which recorded weekly jump in prices by 7.24%. The prices of #2 Copper Wire and Tubing, #1 Copper Wire and Tubing and #1 Copper Bare Bright were up by 7.05%, 6.88% and 6.71% respectively.

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

Meantime, the prices of Cu/Al Radiators, Heater Cores, Cu/Al Radiator Ends and Cu Yokes recorded minimal increase in prices, when matched with the week before.

USA East Coast Prices

The prices of all copper scrap categories witnessed significant jump in the region. Xmas Lights prices posted the biggest increase over the week, recording jump from $0.25 per Lb to $0.27 per Lb.

#3 Copper- Light Copper prices were up by 7.24% over the week, rising from $3.87 per Lb to $4.15 per Lb.

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

A significant increase 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 increase in prices included Sealed Units, Starters, Alternator, Harness Wire 35% Recovery, Copper Transformer Scrap, Scrap Electric Motors and #2 Insulated Copper Wire 50% Recovery,

USA Midwest Prices

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

The biggest jump in prices over the prior week was witnessed in Xmas Lights, whose prices edged higher from $0.24 per Lb to $0.26 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 increased by 7.43%, rising from $3.77 per Lb to $4.05 per Lb during the week.

Meantime, the prices of Cu/Al Radiators, Heater Cores, Cu/Al Radiator Ends and Cu Yokes recorded lowest increase in prices, when matched with the week before.

USA West Coast Prices

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

The scrap categories to record biggest increase 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 positive price variation during the week.

Meantime, marginal increase 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 increases.

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

The #2 Copper Wire and Tubing prices edged higher from CNY 70,150 per MT to CNY 72,100 per MT each. 

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

#1 Copper Wire and Tubing reported increase in prices by CNY 1,950 per MT, from CNY 71,150 per MT during the start of the week to end at $73,100 per MT. 

#1 Copper Bare Bright too reported 2.61% jump in prices over the week.

Meantime, #1 Insulated Copper Wire 85% Recovery, Heater Cores, Scrap Electric Motors and Sealed Units prices also recorded notable jump on the Index.

India Prices

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

The copper sheet cutting scrap prices were up by INR 28,000 per ton over the previous week to close at INR 509,000 per ton on September 26, 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 also increased during the week ended September 26, 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 9,995.00 per tonne as on September 26, 2024. The LME Copper Cash Settlement contract prices increased marginally from $9,618.50 a day before to $9,844.00 per tonne.

The LME Copper stocks saw modest decline over the previous day to close at 303,050 tonnes on September 26, 2024, as compared with 303,350 tonnes on September 25, 2024.

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