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Copper Scrap Price Forecast: US & Canada (JUNE-03-22)

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by - 6/1/2022 1052 Views

Copper Scrap Prices in the United States have declined on a firm US dollar index.

Our RIM research team forecasted Copper Scrap prices in the United States and Canada for June 3, 2022, using Linear Regression and Granger's Causality models by examining the correspondence between Copper Scrap prices and Copper prices.

Copper Scrap price forecasting can be extremely beneficial to Copper Scrap exporters/importers and other scrap sector businesses in analyzing Copper price fluctuations impacted by a lot of factors.

Copper Scrap Prices Forecast for June 3, 2022 in the US And Canada

Copper Scrap Predicted Price
Copper #1 (US) $ 3.71
Copper #2 (US) $ 3.27
Brass (US) $ 2.01
Hard Brass (Canada) $ 3.77
Copper #1 (Canada) $ 4.88
Copper #2 (Canada) $ 4.60
Copper #3 (Canada) $ 4.53
Copper Radiators (Canada) $ 2.84
Sheet Copper (US) $ 2.95

Graphical Representation of COMEX Copper Base Metal Price (US)

Copper Scrap Price Forecast: US & Canada (JUNE-03-22)

Copper prices are now trading at $4.27 per pound (June-01-22), 1.61% down from the previous closing price in the CME Futures.

Copper prices on Wednesday declined from one-month highs because of a stronger US dollar index and weaker economic growth globally. Despite this, China, the world's largest metals consumer, has raised expectations for future demand by relaxing a two-month-long lockdown.

The US dollar index rose 0.2% against its rivals, making greenback-denominated metals more expensive for buyers using other currencies. According to the country's statistics agency INE, April's Copper output in Chile, the world's largest producer of the Copper Base Metal, fell 9.8% to 421,742 tonnes year on year.

Lifting market sentiment, a private sector survey showed that China's factory activity shrank less sharply in May as COVID-19 curbs eased and some production resumed, improving from a 26-month low in April. Meanwhile, in May, Asia's factory activity slowed as China's heavy-handed coronavirus curbs disrupted supply chains and dampened demand.

Today’s Copper Scrap Prices in the United States are

Copper No.1 Scrap Prices (US): 3.77 USD/Lbs

Copper No.2 Scrap Prices (US): 3.31 USD/Lbs

Sheet Copper Scrap Prices (US): 3.01 USD/Lbs

Brass Scrap Prices (US): 2.11 USD/Lbs

Also, Copper Scrap Prices in Canada are

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

No.2 Copper Scrap Prices (Canada): 4.40 CAD/Lbs

No.3 Copper Scrap Prices (Canada): 4.35 CAD/Lbs

Hard Brass Scrap Prices (Canada): 3.79 CAD/Lbs

Copper Radiators Scrap Prices (Canada): 2.76 CAD/Lbs

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Category : General

Tags : Copper, Copper Prices, Copper Scrap, Copper Scrap Prices, Copper Scrap Price Forecast US & Canada, Copper Scrap Price Predictions US And Canada

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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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