Scrap Copper Prices: Weekly Market Report- 27th October, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (20^th to 26^th October, 2023) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded increase, when matched with the week before that.

The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $3.15 per Lb to $3.18 per Lb. The other copper scrap varieties to record notable surge in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded modest price increases by 0.92% and 0.90% respectively.

The weekly price movement for #3 Copper- Light Copper is shown in the below chart:

The prices of #1 Copper Bare Bright, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery and Copper Radiators too increased modestly over the prior week.

Meantime, Cu/Al Radiators, Alternator, #1 Insulated Copper Wire 85% 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 witnessed no change in prices over the prior week.

USA East Coast Prices

The prices of certain copper scrap categories witnessed increase in the region. #3 Copper- Light Copper prices posted the biggest surge over the week, recording increase from $3.15 per Lb to $3.18 per Lb.

A notable surge by 0.92% and 0.90% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.

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

The other scrap copper category that recorded noteworthy jump in prices was #1 Copper Bare Bright, whose prices recorded week-on-week increase by 0.87%. Also, Harness Wire 35% Recovery edged higher marginally by 0.85% over the prior week.

USA Midwest Prices

The copper scrap prices in the region edged higher over the previous week. The top three gainers were #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.

The #3 Copper- Light Copper prices ended the week at $3.17 per Lb, up from the previous week price of $3.14 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices surged over the previous week to close at $3.27 per Lb and $3.37 per Lb respectively.

The prices of #1 Copper Bare Bright, Harness Wire 35% Recovery, #2 Insulated Copper Wire 50% Recovery and Copper Radiators too posted modest increase over the week.

USA West Coast Prices

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

The scrap categories to record largest increase in prices from the previous week were #3 Copper- Light Copper, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.

Meantime, 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, Heater Cores, Romex Wire, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights maintained prior week’s price levels.

China Prices

All copper scrap categories, except a very few, recorded increase on Index, when compared with the week before.

#1 Insulated Copper Wire 85% Recovery surged the most, rising by 0.93% from CNY 32,350 per MT at the start of the week to end the week at CNY 32,650 per MT.

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

The price of Heater Cores too rose by 0.92% week-on-week. The commodity saw its price edge higher from CNY 27,250 per MT to CNY 27,500 per MT. Also, #2 Copper Wire and Tubing prices were up by 0.83% on Index.

Meantime, the Cu/Al Radiators and #2 Insulated Copper Wire 50% Recovery prices recorded the least decline over the prior week.

India Prices

The scrap commodities in Indian market saw no change in prices over the prior week.

The Copper armeture scrap prices were unchanged at INR 675,000 per ton at the close of the week on 26^th October, 2023 on the Scrap Monster Index. The weekly chart depicting the price movement in the commodity is provided below:

The prices of Copper sheet cutting, copper cable scrap and copper heavy scrap recorded no variation over the previous week.

The prices of Copper utensil scrap and Copper wire bars too were flat during the week ended 26^th October, 2023.

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

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,263.00 per tonne as on 26^th October, 2023. The LME Copper Cash Settlement contract prices declined marginally from $7,946.00 a day before to $7,939.00 per tonne.

The LME Copper stocks registered decline over the previous day to close at 182,900 tonnes on 26^th October, 2023, as compared with 185,175 tonnes on 25^th October, 2023.

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