Scrap Copper Prices: Weekly Market Report- 2nd June, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (26^th May, 2023 to 1^st June, 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 Heater Cores, whose prices edged higher from $1.55 per Lb to $1.57 per Lb. The other copper scrap varieties to record notable surge in prices include #3 Copper- Light Copper and #2 Copper Wire and Tubing, which recorded modest price increases by 1.22% and 1.19% respectively.

The weekly price movement for Heater Cores is shown in the below chart:

The prices of #1 Copper Bare Bright, #1 Copper Wire and Tubing, Copper Radiators, Harness Wire 35% Recovery, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery and Romex Wire too witnessed surge on Index.

The rest of the copper scrap commodities witnessed no change over the prior week.

USA East Coast Prices

The prices of most copper scrap categories witnessed substantial increase in the region. Heater Cores prices posted the biggest surge over the week, recording increase from $1.55 per Lb to $1.57 per Lb.

A notable surge by 1.22% and 1.19% was seen in #3 Copper- Light Copper and #2 Copper Wire and Tubing respectively over the week.

The chart provided below depicts the weekly price movement in #3 Copper- Light Copper:

The other scrap copper categories that recorded noteworthy jump in prices included #1 Copper Wire and Tubing, #1 Copper Bare Bright and Copper Radiators.

Meantime, the prices of Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights held steady when matched with the prior week.

USA Midwest Prices

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

The Heater Cores prices ended the week at $1.56 per Lb, up from the previous week price of $1.54 per Lb. Also, #3 Copper- Light Copper and #2 Copper Wire and Tubing prices surged over the previous week to close at $3.30 per Lb and $3.40 per Lb respectively.

The prices of #1 Copper Bare Bright, #1 Copper Wire and Tubing, Copper Radiators, Harness Wire 35% Recovery, #1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery and Romex Wire too posted modest increase over the week.

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 Heater Cores, #3 Copper- Light Copper and #2 Copper Wire and Tubing.

However, Cu/Al Radiators, Alternator, Copper Transformer Scrap, Cu Yokes, Cu/Al Radiator Ends, Cu/Al Radiators/Fe, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights recorded no variation in prices during the previous week.

China Prices

All copper scrap categories witnessed weekly price increase.

#2 Copper Wire and Tubing and #1 Copper Wire and Tubing recorded biggest surge in prices during the previous week.

The #2 Copper Wire and Tubing prices edged higher from CNY 58,750 per MT to CNY 59,900 per MT over the week. 

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

#1 Copper Wire and Tubing reported surge in prices by CNY 1,150 per MT, from CNY 59,750 per MT during the start of the week to end at $60,900 per MT.  #1 Insulated Copper Wire 85% Recovery too reported 1.89% surge in prices over the week.

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 significantly by INR 12,000 per ton over the previous week to close at INR 390,000 per ton on 1^st June, 2023 on the Scrap Monster Index.

The commodity to witness least surge in prices was Copper wire bars (HCL*), whose weekly price chart is provided below:

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap and Copper utensil scrap too increased modestly during the week ended 1^st June, 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 depicts the weekly price movement in #1 Insulated Copper Wire 85% Recovery:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,227 per tonne as on 1^st June, 2023. The LME Copper Cash Settlement contract prices increased from $8,017.00 a day before to $8,210.50 per tonne.

The LME Copper stocks saw marginal surge over the previous day to close at 99,525 tonnes on 1^st June, 2023, as compared with 99,150 tonnes on 31^st May, 2023.

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