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Copper Scrap Price Prediction - US [Sept-21-21]

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by - 9/20/2021 578 Views

Copper Prices on Friday (Sept-17-21) traded at $4.2800 per pound in the CME Futures

Our RIM research team has been researching Copper Scrap prices for more than a year. For the past two months, 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%.

Using Linear Regression research model, we have predicted the prices of US and Canada Copper Scraps (September 21, 2021) 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. Copper Scrap Price predictions will provide valuable insights to Copper Scrap producers, traders, exporters, importers and Copper recycling companies.

Predicted Value of Copper Scrap Price from Copper Base Metal Price

Copper Scrap Price Prediction - US (Sept 21, 2021)

Graphical Representation of Copper Base Metal Price

Current COMEX Copper Price-US

The COMEX (US Metal Exchange) - Copper prices slipped on Friday and traded at $4.2800/lb. in the CME futures.

Copper price declines due to the announcement of China’s state planner stating that it will closely monitor market conditions and continue to release Copper, Aluminum and Zinc from its state reserves, in an effort to overcome mismatches between supply and demand.

“Currently, Copper, Aluminum, and Zinc prices are still high,” said Li Hui, an official from the National Development and Reform Commission, adding that the authority will guide prices back to reasonable levels. Meanwhile, China has released 420,000 tonnes of the metals in three batches so far this year via public auctions at prices “slightly lower than market” and had helped numerous Copper traders and Copper recycling companies.

The Metal Market is keen on China’s fourth release of state reserves. China’s announcement of Metal Auction will definitely impact the Copper Prices and other metal prices in the coming days.

Copper price in September decreases 2.73% from the previous settlement price, touching $4.2800 per pound (Sept-17-21) on the COMEX market in New York. The Linear Regression model predicts the Copper Scrap prices with an accuracy of over 98%.

Our RIM research team still 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


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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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