The LME Copper Cash Settlement contract prices increased marginally from $8,881.00 a day before to $8,975.00 per tonne.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (January 24 to January 30, 2025) on the Scrap Monster Price Index.
The copper scrap prices in the region recorded mixed trend, when matched with the week before that. The prices of majority of the commodities held steady, while the remaining inched higher from prior week’s price levels. In contract, Copper Radiator scrap prices edged lower.
The biggest increase in prices over the prior week was witnessed in #3 Copper-Light Copper, whose prices edged higher from $3.85 per Lb to $3.86 per Lb. The other copper scrap varieties to record modest jump in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price increases by 0.25% each.
#1 Copper Bare Bright prices also witnessed an increase of 0.24%.
Also, Copper Radiators prices were down by 0.38%, falling from $2.66 per Lb at the beginning of the week to close the week at $2.65 per Lb.
The weekly price movement for Copper Radiators is shown in the below chart:
The rest of the copper scrap categories held steady on the Index during the week ended January 30, 2025.
The prices of most copper scrap categories witnessed no change in the region. #3 Copper-Light Copper prices posted the biggest increase over the week.
The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing too recorded jump over the week. The other scrap commodities whose prices increased during the week included #1 Copper Bare Bright.
The weekly price chart of #1 Copper Bare Bright is provided below:
Copper Radiators prices recorded a decline of 0.38% to end the week at $2.65 per Lb on the Index.
Meanwhile, the prices of all other commodities were flat on the Index.
The copper scrap prices in the region witnessed mixed trend, when matched with the week before that. The prices of majority of the commodities remained constant.
The largest increase in prices over the prior week was witnessed in #3 Copper-Light Copper, whose prices edged higher from $3.75 per Lb to $3.76 per Lb.
The other copper scrap varieties to record modest jump in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price increases by 0.26% and 0.25% respectively.
The #1 Copper Bare Bright prices were up from $4.05 per Lb to $4.06 per Lb during the course of the week. Also, Copper Radiators scrap fell by 0.38% during the week ended January 30, 2025.
The prices of Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights held steady over the previous week.
The weekly price movement for Romex Wire is shown in the below chart:
The prices of most copper scrap categories witnessed no change in the region. However, a few reported increase over the previous week.
#3 Copper-Light Copper prices posted the biggest positive movement over the week.
The prices of #2 Copper Wire and Tubing and #1 Copper Wire and Tubing too increased modestly over the week.
The other copper scrap category to witness increase in prices was #1 Copper Bare Bright.
Meanwhile, Copper Radiators prices witnessed a decline of 0.37% during the week ended January 30, 2025.
The Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights prices were flat over the previous week.
The prices of a few of the copper scrap categories recorded decline over the previous week.
#2 Copper Wire and Tubing prices edged lower by 0.43% week-on-week to close at CNY 69,700 per MT during the week.
The prices of #1 Copper Wire and Tubing also were down by 0.42%, when compared with the week before.
The #1 Insulated Copper Wire 85% Recovery prices recorded decline, falling from the previous week’s prices by 0.41% as of January 30, 2025. The price of the commodity ended the week at CNY 36,600 per MT. The weekly price chart of the commodity for the week ending January 23, 2025 is given below:
#1 Copper Bare Bright, Heater Cores, #2 Insulated Copper Wire 50% Recovery and Cu/Al Radiators also registered week-on-week decline in prices.
In contrast, Harness Wire 35% Recovery, Cu Yokes, Copper Transformer Scrap, Sealed Units, and Scrap Electric Motors prices held steady on the Index.
The scrap commodities in Indian market recorded decline, upon comparison with the previous week.
The Copper sheet cutting prices recorded the biggest decline, with the prices of the commodity recording decline by 4.15%. The prices of the commodity fell from INR 410,000 per Ton to INR 393,000 per Ton. The weekly chart depicting the price movement in Copper sheet cutting is provided below:
The prices of Copper armeture, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars (HCL *) declined on the Index during the week ended January 30, 2025.
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.
LME Copper Market Update
The closing price of LME Copper 3-Month contract stood at USD 9,100 per tonne as of January 30, 2025. The LME Copper Cash Settlement contract prices increased marginally from $8,881.00 a day before to $8,975.00 per tonne.
The LME Copper stocks saw marginal decline over the previous day to close at 256,275 tonnes of January 30, 2025, when compared with 256,300 tonnes a day before.
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