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Copper Scrap Price Forecast Comparison: US – June 2, 2022

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by - 6/2/2022 1294 Views

Copper Scrap prices in the United States have surged due to an uplifting outlook for Chinese demand.

Copper Scrap prices are recently influenced and fluctuated due to the current global economic slowdown, making it difficult for investors to determine the appropriate pricing for Copper Scraps.

Our RIM researchers have been forecasting Copper Scrap prices in the US for the last several months, and our forecast is very accurate, with an accuracy of more than 98 percent.

We forecasted the Copper Scrap prices in the United States for June 2, 2022, using AI and Granger's causality and Linear Regression models after understanding the correlation between Copper prices and Copper Scrap prices.

Copper Scrap price forecast will benefit Copper Scrap traders, investors, and scrap-related businesses in deciding when to buy/sell Copper Scrap at increased profits. Let us now compare the Copper Scrap predicted price and the actual Copper Scrap price in the US on June 2, 2022.

Copper Scrap Forecast Price Vs. Actual Price in the United States

  Copper Scrap Predicted Price Actual Price Diff Diff in %
0 Copper #1 (US) $ 3.77 $ 3.75 0.02 0.53%
1 Copper #2 (US) $ 3.32 $ 3.30 0.02 0.61%
2 Brass (US) $ 2.04 $ 2.10 -0.06 -2.86%
3 Sheet Copper (US) $ 3.00 $ 3.00 0.00 0.00%

Market Price Graph of Copper No.1 Scrap in the United States

Copper Scrap Price Forecast Comparison: US – June 2, 2022

Copper Scrap prices settled up on Thursday in the hope of drastic demand from the top scrap metals consumer, China is beginning to come out of lockdown, which supports Copper prices & Copper Scrap prices.

According to recent data released by China make us clear that the factory activities have dropped to a lower rate since January, which has significantly impacted the overall Asia market. China's strict coronavirus restrictions have continued to disrupt supply chains and reduce demand.

Meanwhile, major countries such as Japan, Europe, and the United States are experiencing slower economic growth, putting additional pressure on Copper Scrap prices. Also, the stronger US dollar index raises the cost of greenback-denominated metals for buyers using other currencies.

Today’s Copper Scrap Prices in the United States are

Copper No.1 Scrap Prices (US)3.75 USD/Lbs

Copper No.2 Scrap Prices (US): 3.30 USD/Lbs

Sheet Copper Scrap Prices (US): 3.00 USD/Lbs

Brass Scrap Prices (US): 2.10 USD/Lbs

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Category : General

Tags : Copper, Copper Prices, Copper Scrap, Copper Scrap Prices, Copper Scrap Price Forecast US, Copper Scrap Price Predictions US


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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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