Scrap Copper Prices: Weekly Market Report- 7th June, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (31^st May to 6^th June, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region mostly remained unchanged. A few scrap categories recorded surge over the prior week. Also, some witnessed decline over the previous week.

The biggest decline in prices over the prior week was witnessed in Xmas Lights, whose prices inched lower from $0.26 per Lb to $0.25 per Lb.

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

The other copper scrap varieties to record notable decline in prices include Starters, Alternators, Copper Transformer Scrap, Cu Yokes, Scrap Electric Motors and Sealed Units.

The prices of #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper recorded increase over the week.

Meantime, all other scrap copper categories witnessed no change in prices over the week.

USA East Coast Prices

The prices of most copper scrap categories witnessed no change upon comparison with the prior week.

#1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Cu Yokes, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe prices were flat on Index.

A few categories posted remarkable decline in the region. Xmas Lights prices posted the biggest dip over the week, recording decline of 3.85% from $0.26 per Lb to $0.25 per Lb.

#3 Copper- Light Copper prices recorded the biggest surge, rising from $4.20 per Lb to $4.25 per Lb over the week.

The below graph depicts the price movement in #3 Copper- Light Copper over the previous week:

USA Midwest Prices

The copper scrap prices in the region recorded mixed trend.

The biggest increase in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged higher from $4.18 per Lb to $4.23 per Lb. The prices of the commodity were up by 1.20% week-on-week. Also, #2 Copper Wire and Tubing prices edged higher by 1.17% on Index during the week ended 6^th June, 2024.

The scrap copper categories to post weekly dip in prices were Alternator, Copper Transformer Scrap, Cu Yokes, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights.

The rest of the commodities reported no change in prices during the week ended 6^th June, 2024. 

USA West Coast Prices

The prices of most of the copper scrap metal varieties in the region witnessed no change over the week.

#1 Insulated Copper Wire 85% Recovery, #2 Insulated Copper Wire 50% Recovery, Copper Radiators, Cu Yokes, Harness Wire 35% Recovery, Heater Cores, Romex Wire, Cu/Al Radiators, Cu/Al Radiator Ends and Cu/Al Radiators/Fe prices were flat on Index.

Only four categories- #1 Copper Bare Bright, #1 Copper Wire and Tubing, #2 Copper Wire and Tubing and #3 Copper- Light Copper witnessed price surge over the week.

Meantime, Alternator, Copper Transformer Scrap, Cu Yokes, Scrap Electric Motors, Sealed Units, Starters and Xmas Lights prices were down on Index.

China Prices

The prices of copper scrap categories witnessed decline over the week.

#1 Insulated Copper Wire 50% Recovery prices declined the most. The prices of the commodity recorded weekly decline by 1.75%, falling from CNY 40,100 per MT to CNY 39,400 per MT during the previous week.

The weekly price chart of #1 Insulated Copper Wire 50% Recovery is provided below:

The other prominent losers over the previous week were #2 Copper Wire and Tubing and #1 Copper Wire and Tubing.

The prices of all other copper scrap categories too recorded decline upon comparison with the previous week.

India Prices

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

The copper sheet cutting prices recorded largest surge, recording increase by 1.87% over the week. The prices of the commodity soared from INR 535,000 per Ton to INR 545,000 per Ton. The weekly chart of the commodity is provided below:

The prices of Copper armeture, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars too registered week-on-week surge during the week ended 6^th June, 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 Tube:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 10,045.00 per tonne as on 6^th June, 2024. The LME Copper Cash Settlement contract prices increased modestly from $9,769.00 a day before to $9,930.00 per tonne. LME Copper stocks saw marginal increase over the day, rising from levels of 120,000 tonnes a day before to 122,200 tonnes as on 6^th June, 2024.

Subscribe to Scrap Monster Live Scrap Prices