The LME Copper Cash Settlement contract dipped lower from $8,415.00 a day before to $8,383.00 per tonne.
SEATTLE (Scrap Monster):The below report analyses the weekly price trends of scrap copper across various regional markets during the past week (9th December, 2022 to 15th December, 2022) on the Scrap Monster Price Index.
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 $3.44 per Lb to $3.37 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 1.98% and 1.92% respectively.
The weekly price movement for #3 Copper- Light Copper is shown in the below graph:
The prices of Xmas Lights, Alternator, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap and Cu/Al Radiators witnessed no change on Index.
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 $3.44 per Lb to $3.37 per Lb. A modest dip by 1.98% and 1.92% was seen in #2 Copper Wire and Tubing and #1 Copper Wire and Tubing respectively over the week.
The scrap copper categories that recorded nominal decline in prices included Harness Wire 35% Recovery, Heater Cores, Romex Wire and #2 Insulated Copper Wire 50% Recovery.
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 $3.28 per Lb, down from the previous week price of $3.35 per Lb. Also, #2 Copper Wire and Tubing and #1 Copper Wire and Tubing prices declined over the previous week to close at $3.38 per Lb and $3.58 per Lb respectively.
Heater Cores prices recorded marginal decline over the week. The price chart for Heater Cores for the previous week is provided below:
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 $3.45 per Lb at the start of the week to $3.38 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 1.97% and 1.92% respectively.
Meantime, the prices of Xmas Lights, Alternator, Starters, Sealed Units, Scrap Electric Motors, Cu/Al Radiators/Fe, Cu/Al Radiator Ends, Cu Yokes, Copper Transformer Scrap and Cu/Al Radiators remained unchanged on Index.
Incidentally, all copper scrap categories witnessed weekly price drop.
#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 62,250 per MT to CNY 61,400 per MT each.
The weekly price chart of #2 Copper Wire and Tubing is provided below:
#1 Copper Wire and Tubing reported dip in prices by CNY 850 per MT, from CNY 63,250 per MT during the start of the week to end the week at $62,400 per MT. #1 Insulated Copper Wire 85% Recovery too reported 1.30% decline in prices over the week.
The scrap commodities in Indian market maintained the previous week price levels, recording no change at all.
The copper cable scrap prices were unmoved at INR 703,000 per Ton over the prior week. The weekly chart of the commodity is provided below:
The prices of Copper Armature, Copper heavy scrap, Copper sheet cutting, Copper utensil scrap and Copper wire bars too witnessed no change during the week ended 15th December, 2022.
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 Braziery Copper:
LME Copper Market Update
Meantime, the closing price of LME Copper 3-Month contract stood at USD 8,422.00 per tonne as on 15th December, 2022. The LME Copper Cash Settlement contract dipped lower from $8,415.00 a day before to $8,383.00 per tonne.
The LME Copper stocks declined over the previous day to close at 83,725 tonnes on 15th December, 2022, as compared with 85,525 tonnes on 14th December, 2022.
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