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Comparison of US Copper Scrap Predicted Price and Actual Price [August-16-21]

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by - 8/16/2021 1065 Views

Analyzing the difference between the Predicted Copper Scrap Price and Actual Copper Scrap Price for August 16th

Using Granger's Causality, Ordinary Least Square (OLS), and Linear Regression research methods, we have predicted the prices of US Copper Scraps for August 16th on August 13th. For the last July month, we have been in the process of predicting the Copper Scrap prices. Our research has gone successful and, we have predicted the Copper Scrap prices with an accuracy of over 98%. Now let’s compare the difference between the Copper Scrap Actual Price and Predicted Price for August 16th.

Results for Predicted Copper Scrap Price on August 16th, 2021 [Predicted on August 13th, 2021]

Copper-Predictions-Comparison_US_Aug 16th

Graphical Representation of Actual Copper Scrap Price vs. Predicted

US Copper Scrap Actual Price Vs Predicted Price for Aug 16th


Copper prices fell to their lowest in more than two weeks due to China’s Copper import volumes dropped by more than a tenth compared with the first seven months of 2020. The biggest Copper buyer in the world China bought 3.219 million tonnes of unwrought Copper and Copper products in the first seven months this year, down 10.6% compared with the same period in 2020, the latest Chinese customs data shows. “The dollar is one factor behind the selling and the other is Chinese demand,” one Copper trader told Reuters.

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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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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