Weekly Report: Scrap Copper Prices - 6th October, 2023

SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (29^th September, 2023 to 5^th October, 2023) on the Scrap Monster Price Index.

North America Prices

The copper scrap prices in the region recorded significant decline during the week.

The biggest dip in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $3.32 per Lb to $3.16 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 substantial price falls by 4.68% and 4.55% respectively.

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

Meantime, the prices of Cu Yokes, Copper Radiators and Heater Cores recorded minimal decline in prices, when matched with the week before.

A few scrap commodities- Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe and Xmas Lights remained unchanged over the previous week.

USA East Coast Prices

The prices of all copper scrap categories witnessed remarkable decline in the region. #3 Copper- Light Copper prices posted the biggest dip over the week, recording decline from $3.32 per Lb to $3.16 per Lb.

#2 Copper Wire and Tubing prices were down by 4.68% over the week, falling from $3.42 per Lb to $3.26 per Lb.

A notable decline by 4.55% was seen in #1 Copper Wire and Tubing over the week.

The variation in prices over the week for #2 Copper Wire and Tubing is given in the below chart:

The other scrap copper categories that recorded noteworthy decline in prices included #1 Copper Wire and Tubing, #1 Copper Bare Bright, Sealed Units, Alternators and Starters.

USA Midwest Prices

The copper scrap prices in the region mostly recorded decline.

The biggest dip in prices over the prior week was witnessed in #3 Copper- Light Copper, whose prices edged lower from $3.31 per Lb to $3.15 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 substantial price falls by 4.69% and 4.56% respectively.

Meantime, the prices of Cu Yokes, Copper Radiators and Heater Cores recorded lowest decline in prices, when matched with the week before.

USA West Coast Prices

The copper scrap metal prices in the region witnessed noticeable decline week-on-week.

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

Also, Sealed Units, Alternator, Copper Transformer Scrap, Scrap Electric Motors, Starters, #2 Insulated Copper Wire 50% Recovery, Harness Wire 35% Recovery, Heater Cores, , Copper Radiators and #1 Copper Bare Bright recorded modest negative price variation during the week.

Meantime, Cu/Al Radiators, Cu/Al Radiator Ends, Cu/Al Radiators/Fe and Xmas Lights held steady week-over-week. 

China Prices

All copper scrap categories held steady over the previous week.

#1 Copper Bare Bright and Cu/Al Radiators prices held steady.

#1 Copper Wire and Tubing, #1 Insulated Copper Wire 85% Recovery and #2 Copper Wire and Tubing were unchanged over the week.

#2 Copper Wire and Tubing, #2 Insulated Copper Wire 50% Recovery and Copper Transformer Scrap prices were flat.

Other scrap varieties including Cu Yokes, Harness Wire 35% Recovery, Heater Cores, Scrap Electric Motors and Sealed Units too recorded no change in prices.

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

India Prices

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

The copper sheet cutting scrap prices were down by INR 7,000 per ton over the previous week to close at INR 365,000 per ton on 5^th October, 2023 on the Scrap Monster Index. The weekly chart of the commodity is provided below:

The prices of Copper Armature, Copper cable scrap, Copper heavy scrap, Copper utensil scrap and Copper wire bars too declined during the week ended 5^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 depicts the weekly price movement in Copper Radiators:

LME Copper Market Update

Meantime, the closing price of LME Copper 3-Month contract stood at USD 7,890.00 per tonne as on 5^th October, 2023. The LME Copper Cash Settlement contract prices declined from $7,910.50 a day before to $7,812.50 per tonne.

The LME Copper stocks saw slight surge over the previous day to close at 169,900 tonnes on 5^th October, 2023, as compared with 168,425 tonnes on 4^th October, 2023.

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