Home > General News > Daily Prediction of US Copper Scrap Price [August-20-21]

Daily Prediction of US Copper Scrap Price [August-20-21]

Pin It DMCA.com

by - 8/19/2021 1257 Views

We have predicted the US Copper Scrap prices for August 20th by using Ordinary Least Square (OLS), Linear Regression and Granger's Causality research methods

Examining the interdependence between Copper base metal and Copper Scrap over the past 10 years (2011-2021) and that helps to predict the Copper Scrap prices based on COMEX EOD (End of Day) prices of primary Copper. By means of Ordinary Least Square (OLS), Linear Regression and Granger's Causality research methods, we have predicted the prices of Copper Scraps for 20th August.

For the last June month, we have been in the process of predicting the US Copper Scrap prices. Our research has gone successful and we have predicted with the difference value of 0.5 to 2%. We have calculated the prices of Copper Scraps such as Copper No.1 US, Copper No.2 US, Hard Brass US, Copper No.1 Canada, Copper No.2 Canada, Copper No.3 Canada, Copper Radiators Canada, and Sheet Copper US. This will provide valuable insights to Scrap Copper producers, traders, exporters, importers and Copper recycling companies.

Predicted Value of Copper Scrap Price from Base Metal Copper Price

US Copper Scrap Price Prediction -  Aug 20th

Graphical Representation of Copper Base Metal Price

Current-COMEX-Copper-Price-US

Latest US Copper Scrap Price Predictions (August 19, 2021) - Here!

 

The COMEX (US Metal Exchange) - Copper prices eased on Wednesday to the lowest in a month and traded at $4.1155 per pound in the CME futures. Copper is vitally used in power and construction, Copper’s price has gained more than 20% this year because of its usage and touched a record high of $10,747.50 in May.

At present, we could see a continuous drop in Copper prices due to a strike in the BHP Escondida Copper mine. The Copper price edged lower despite fears of supply disruption at Las Bambas mine in Peru amid ongoing labour strikes in top producer Chile.

Lately, Copper prices appear heavily influenced by disruptions and potential supply constraints. If this scenario continuous in the current market environment with tight global supply and high demands, the Copper prices will jump.   

We have examined after a continuous daily prediction of Copper Scrap prices and concluded that our RIM research team 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.

Category : General

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


Share this news
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

Comments


Be the first to post a comment.