“Copper Scrap Prices” are a very common topic discussed in the current days as Copper Base Metal is regarded as the bellwether of the global economy. Due to the global crisis, Copper prices are highly impacted, making investors riskier to decide when to invest in this industry.
To bring out a solution for this, our RIM researchers forecasted Copper Scrap prices in the US & Canada for June 16, 2022, by understanding the correlation between Copper prices and Copper Scrap Prices.
Our Copper Scrap price forecast will help Copper Scrap traders/recyclers and investors understand the current data related to supply and demand-side issues influencing Copper Scrap prices. On the other hand, Copper Scrap price predictions make them better decide when to buy or sell Copper Scraps at higher market rates in the upcoming days.
Copper Scrap Prices Forecast for June 16, 2022 in the US & Canada
| Copper Scrap | Predicted Price |
| Copper #1 (US) | $ 3.69 |
| Copper #2 (US) | $ 3.25 |
| Brass (US) | $ 2.00 |
| Hard Brass (Canada) | $ 3.77 |
| Copper #1 (Canada) | $ 4.86 |
| Copper #2 (Canada) | $ 4.58 |
| Copper #3 (Canada) | $ 4.51 |
| Copper Radiators (Canada) | $ 2.83 |
| Sheet Copper (US) | $ 2.94 |
Graphical Representation of COMEX Copper Base Metal Price (US)
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Copper prices have declined for the fifth straight day on a stronger US dollar index and worries over weaker demand growth in the top base metals and scrap metals consumer China because of the re-imposition of new Covid lockdowns in the major cities of China.
After two months of prolonged shutdowns, Shanghai and Beijing found new COVID-19 cases imposing new Covid limitations, affecting the demand for industrial metals such as Copper, Steel and Aluminum.
Meanwhile, as China relaxed the two months' prolonged lockdowns and started importing scrap metals and base metals, Copper pricing was hovering around $4.54 per pound (Month high).
And now, China's implementation of new limits has muted the demand growth in China, pushing Copper prices to $4.22 per pound, and almost 7.05% drop out from the recent price hike.
Copper prices are trading at $4.22 per pound in the CME Futures on June 14, 2022. Similarly, Copper Scrap prices have also dropped and are now trading at,
Copper No.1 Scrap Prices (US): 3.65 USD/Lbs
Copper No.2 Scrap Prices (US): 3.15 USD/Lbs
Sheet Copper Scrap Prices (US): 2.90 USD/Lbs
Brass Scrap Prices (US): 2.05 USD/Lbs
Today’s Copper Scrap Prices in Canada
No.1 Copper Scrap Prices (Canada): 4.90 CAD/Lbs
No.2 Copper Scrap Prices (Canada): 4.60 CAD/Lbs
No.3 Copper Scrap Prices (Canada): 4.52 CAD/Lbs
Hard Brass Scrap Prices (Canada): 3.79 CAD/Lbs
Copper Radiators Scrap Prices (Canada): 2.76 CAD/Lbs
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