Scrap Copper Prices: Weekly Market Report- June 28th, 2024

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (21^st June, 2024 to 27^th June, 2024) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region displayed mixed trend.

The biggest dip in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $4.01 per Lb to $3.91 per Lb.

The other copper scrap varieties to record notable decline in prices include #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price declines by 2.43% and 2.38% respectively.

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

The prices of Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Alternators and Cu/Al Radiators witnessed no change on Scrap Monster Index.

USA East Coast Prices

The prices of most copper scrap categories witnessed decline in the region. #3 Copper- Light Copper prices recorded biggest drop over the week, recording decline from $4.01 per Lb to $3.91 per Lb. A modest dip by 2.43% and 2.38% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.

The below chart displays the variation in prices of #2 Copper Wire and Tubing over the previous week:

The other scrap copper categories that recorded nominal decline in prices included #2 Insulated Copper Wire 50% Recovery , Cu Yokes, Harness Wire 35% Recovery, #1 Insulated Copper Wire 85% Recovery, Copper Radiators, Heater Cores, Romex Wire and.#1 Copper Bare Bright.

Meantime, all other scrap varieties held steady over the week.

USA Midwest Prices

The copper scrap prices in the region mostly edged lower over the previous week. The top three losers 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 $3.89 per Lb, down from the previous week price of $3.99 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices declined over the previous week to close at $3.99 per Lb and $4.09 per Lb respectively.

#2 Insulated Copper Wire 50% Recovery posted the least decline over the week.

Meantime, Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Alternators and Cu/Al Radiators witnessed no change on Index.

USA West Coast Prices

The copper scrap metal prices in the region was a mixed bag, with prices of most categories registering week-on-week decline. However a few copper scrap categories recorded stable prices.

The scrap category to fall the most was #3 Copper- Light Copper, whose prices recorded decline from $4.09 per Lb at the start of the week to $3.99 per Lb towards the end of the week. It was followed by #2 Copper Wire and Tubing and #1 Copper Wire and Tubing, which recorded price declines by 2.39% and 2.33% respectively.

Meantime, the prices of Xmas Lights, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Copper Transformer Scrap, Alternators and Cu/Al Radiators remained unchanged on Index. 

China Prices

The prices of all copper scrap categories witnessed weekly price decline, upon comparison with the prior week.

#2 Copper Wire and Tubing and #1 Copper Wire and Tubing recorded sharpest declines during the previous week.

The #2 Copper Wire and Tubing prices edged lower from CNY 73,100 per MT to CNY 71,300 per MT each. 

#1 Copper Wire and Tubing reported decline in prices by CNY 1,800 per MT, from CNY 74,100 per MT during the start of the week to end the week at $72,300 per MT. 

#1 Insulated Copper Wire 85% Recovery too reported 2.34% dip in prices over the week.

Harness Wire 35% Recovery recorded the least decline in prices over the week. The prices of the commodity inched lower by 0.57% over the week, falling from CNY 17,450 per MT at the start of the week to end the week at CNY 17,350 per MT.

The weekly price chart of Harness Wire 35% Recovery is provided below:

India Prices

The scrap commodities in Indian market recorded decline from previous week price levels.

The copper sheet cutting prices dipped by INR 5,000 per Ton to INR 516,000 per Ton over the prior week. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap and Copper wire bars (HCL*) too witnessed notable decline during the week ended 27^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 were stable during the course of the week.

The chart provided below depicts the weekly price change in Copper Radiators:

LME Copper Market Update

The closing price of LME Copper 3-Month contract stood at USD 9,563.00 per tonne as on 27^th June, 2024. The LME Copper Cash Settlement contract edged higher marginally from $9,420.00 a day before to $9,422.50 per tonne.

The LME Copper stocks surged higher over the previous day to close at 177,750 tonnes on 27th June, 2024, as compared with 175,475 tonnes on 26^th June, 2024.

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