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Copper Scrap Price Prediction - US [Sept-28-21]

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by - 9/27/2021 605 Views

Copper Prices on Friday (Sept-24-21) traded at $4.23 per pound in the CME Futures

By means of Ordinary Least Square (OLS), Linear Regression and Granger's Causality research models, we have predicted the Copper Scrap prices for the 28th of September 2021.

We have predicted the Copper Scrap prices such as Copper No.1 US (ISRI Code BARLEY), Copper No.2 US, Hard Brass US (ISRI Code EBONY), Copper No.1 Canada, Copper No.2 Canada (ISRI Code BIRCH), Copper No.3 Canada, Copper Radiators Canada, and Sheet Copper US (ISRI Code DREAM). Copper Scrap price prediction will provide valuable insights to Copper Scarp producers, traders, exporters, importers and Copper recycling companies.

For the past two months, our RIM research team has 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%.

Predicted Value of Copper Scrap Price from Copper Base Metal Price

Copper Scrap Price Prediction - US (Sept-28-21)

            Graphical Representation of Copper Base Metal Price

Current-COMEX-Copper-Price-US

The COMEX (US Metal Exchange) - Copper prices on Friday traded at $4.23 per pound.

Previously, Copper prices edged lower and hitting a month low of $4.12/lbs due to collapse over the china’s largest property developer Evergrande was at a debt of $300 billion. The company’s deepening debt problems have triggered fears over the impact its potential collapse could have on China’s economy.

“Copper prices are falling in sympathy with risk-off trading and weak sentiment because of Evergrande,” said Giles Coghlan, an analyst at broker HYCM. At present, Copper prices are backed to the form and again in the rally.

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.

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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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