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Comparison of US Copper Scrap Predicted Price and Actual Price [Sept-10-21]

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by - 9/10/2021 512 Views

In the CME Futures, Copper Prices on the 9th September settled at $4.2285 per pound

Our RIM research team has been researching Copper Scrap prices for more than a year. For the past two months, we have been predicting the Copper Scrap prices daily. Our research has gone successful and, we have predicted the US Copper Scrap prices with an accuracy of over 98%.

Using Granger's Causality, Ordinary Least Square (OLS), and Linear Regression research models, we have predicted the US and Canada Copper Scrap prices for the 10th of September 2021 (Predicted on September 9th, 2021). Now let’s compare the difference between the predicted Copper Scrap price and the Actual Copper Scrap price.

Results for Predicted Copper Scrap Price -Sept 10, 2021[Predicted on Sept 9, 2021]

Copper-Predictions-Comparison - US

Graphical Representation of Actual Copper Scrap Price vs. Predicted

US Copper Scrap Actual Price Vs Predicted Price - Sept 10, 2021

 

 

The COMEX (US Metal Exchange)Copper Prices on the 9th of September settled at $4.2285 per pound. At now, Copper price keeps falling for the third straight day.

Copper price decreases due to weak demand from top consumer China. Meanwhile, China’s factory activity slipped in August for the first time in nearly 1-1/2 years as COVID-19 containment measures, supply bottlenecks and high raw material prices weighed on output.

Manufacturing activity in August from other Asian major economies of Japan, South Korea and Taiwan also expanded at a slower rate on chip shortages and factory shutdowns. Slower manufacturing activity in Asian and other African countries highly impacted the Copper prices.

We have examined after a continuous daily prediction of Copper Scrap prices and concluded that our research has gone successful and, we have predicted the Copper Scrap prices with the difference value of 0.5 to 2%. Our RIM research team continues the research on Copper Scrap prices and we will update it her. 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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