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Copper Scrap Price Prediction – US (OCT-25-21)

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by - 10/23/2021 599 Views

Copper on Friday (Oct-22-21) traded at $4.5625 per pound in the CME Futures.

Our RIM research team have predicted the Copper Scrap prices of Copper Scrap such as No.1 Copper Scrap - US (ISRI Code BARLEY), No.2 Copper Scrap - US (ISRI Code BIRCH), Hard Brass Scrap - US (ISRI Code EBONY), No.1 Copper Scrap - Canada, No.2 Copper Scrap - Canada (ISRI Code BIRCH), No.3 Copper Scrap - Canada, Copper Radiators Scrap (Canada), and Sheet Copper Scrap - US (ISRI Code DREAM).

Using Ordinary Least Square (OLS), Linear Regression and Granger's Causality research models, we have predicted the Copper Scrap prices for the 25th of October. Copper Scrap Price prediction provides 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 (OCT-25-21)

Graphical Representation of Copper Base Metal Price

Current-COMEX-Copper-Price-US-Prices

Copper Scrap Price in US and Canada Today (OCT-22-21)

Today’s Copper Scrap Price in US and Canada is

No.1 Copper Scrap Price (US): 4.11 USD/lbs

No.2 Copper Scrap Price (US): 3.45 USD/lbs

No.1 Copper Scrap Price (Canada): 4.87 CAD/lbs

No.2 Copper Scrap Price (Canada): 4.53 CAD/lbs

No.3 Copper Scrap Price (Canada): 4.45 CAD/lbs

To know Copper Scrap Prices and Copper Prices instantly, Subscribe for Current Copper Scrap Prices and Base Metal Prices.

Copper Price in US Today

The COMEX (US Metal Exchange) - Copper Price on the 22nd of October traded at $4.5625 per pound.

Copper price fell sharply as the supply squeeze on the London Metal Exchange (LME) eased and also slowing Copper demand in top consumer China. Meanwhile, the world’s largest publicly traded Copper miner produced less Copper than expected.

Copper’s blistering rally above $10,700 a ton came in May as lockdown restrictions flashed voracious demand for Copper in housing and consumer goods. Presently, Copper price hit a new record high of $4.73 per pound on last Friday (OCT-15-21) as surging power prices threaten to curb supply at a time when exchange stockpiles hit a 47-year low.

Another reason for the surge in Copper price is that Copper’s demand in green energy transition increases since August 2021. EV sales have been rising in all the key regions -- US, Europe and China. The green energy transition is important, as prospects for Copper use in green applications are highly influencing Copper’s demand.

So, Copper price would increase even more, speculating that the manufacturing boom would dovetail into long-term plans for electric vehicles and renewable energy.

Copper price in September drops 4.86% from the previous settlement price (Oct 21, 2021) of $4.73/lbs, touching $4.56/lbs (Oct 22, 2021) in the CME Futures.

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Tags : Copper, Copper Price, 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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