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Daily US Copper Scrap Price Predictions [August-05-21]

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by - 8/4/2021 598 Views

We have predicted the US Copper Scrap prices for August 5th, 2021

Examining the interdependence between the Copper base metal and Copper Scrap over the past ten years (2011-2021), we have predicted the Copper Scrap prices for August 5th. This will provide valuable insights to Scrap Copper producers, traders, exporters, importers and Copper recycling companies. We have calculated the prices of Copper Scraps such as Copper No.1 US, Copper No.2 US, Hard Brass Canada, Copper No.1 Canada, Copper No.2 Canada, Copper No.3 Canada, Copper Radiators Canada, and Sheet Copper Canada. For predicting the Copper Scrap prices, the research methods we used are Ordinary Least Square (OLS), Linear Regression, and Granger's Causality.

Predicted Value of Copper Scrap Price from Base Metal Copper Price

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Graphical Representation of Copper Base Metal Price

The COMEX (US Metal Exchange) - Copper Prices on August 3rd traded at $4.3810. Copper Prices on Tuesday dropped due to China’s low metal imports. China’s imports of unwrought Copper have been reaching lower since the sharp recovery from the coronavirus pandemic amid stimulus spending in the middle of last year. Imports reached a high of 762,211 tonnes in July of 2020, and have been dropping ever since. Fitch Solutions Country Risk & Industry Research says Copper prices will remain elevated compared to previous years, on the back of tight fundamentals and positive investor sentiment due to the ongoing global economic recovery.”

The Linear Regression model predicts the Copper Scrap prices with an accuracy of over 98%. Our RIM research team continues the research on Copper Scrap prices and, we will update it here. Subscribe for RIM Scrap Price Access and Current Copper Scrap prices.

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Category : General

Tags : Copper, Copper Scrap, Copper Scrap Price, Copper Scrap Price Predictions


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About Jenisha Rajakumar

I'M a Research Analyst and Content Creator at RIM. Currently I'm researching on Copper Prices around the Globe and the impacts on Copper Scrap Prices with regard to COMEX, LME, SHFE and MCX. .... more info

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