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Copper Scrap Price Prediction - US [Oct-08-21]

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by - 10/7/2021 526 Views

Copper Prices on Wednesday (Oct-06-21) traded at $4.1755 per pound in the CME Futures.

Using Ordinary Least Square (OLS), Linear Regression and Granger's Causality research models, we have predicted the Copper Scrap prices for the 8th of October. We have predicted the Copper Scrap prices such as Copper No.1 US (ISRI Code BARLEY), Copper No.2 US (ISRI Code BIRCH), 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 Scrap producers, traders, exporters, importers and Copper recycling companies.

Predicted Value of Copper Scrap Price from Copper Base Metal Price

Copper Scrap Price - US - (Oct - 08-21)

                             Graphical Representation of Copper Price

Current-COMEX-Copper-Price-US

       Watch the Latest Video of Copper Scrap Price Prediction – US

 

The COMEX (US Metal Exchange) - Copper Prices on Wednesday traded at $4.1755 per pound.

"Weakening construction, credit tightening, Evergrande crisis, and a power shortage in China are key headwinds for Copper Prices," said ANZ analyst Soni Kumari. The collapse in China due to the top-selling developer, Evergrande Group is facing one of the country's largest-ever debt restructurings with more than US$300 billion in liabilities. Meanwhile, prolonged power curbs in China have slowed the manufacturing activity in September. Presently, all these factors are pushing Copper Prices down.

As of Oct 7, 2021, Copper Scrap Prices are

No.1 Copper Scrap Prices (US): 3.55 USD/lbs

No.2 Copper Scrap Prices (US): 3.03 USD/lbs

No.1 Copper Scrap Prices (Canada): 4.73 CAD/lbs

No.2 Copper Scrap Prices (Canada): 4.35 CAD/lbs

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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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