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Copper Scrap Price Forecast: US & Canada(July-30-22)

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by - 7/28/2022 598 Views

Copper Scrap prices in the United States and Canada climbed up, supported by higher Copper prices because of continuing supply disruption in the world's largest Copper mine.

Copper Scrap price forecasting will assist Copper Scrap importers, exporters, recyclers, and other scrap-related industries in determining the best time to sell or buy Copper Scraps for maximum profits.

By analyzing the correlation between Copper prices and Copper Scrap prices, our RIM research team forecasted Copper Scrap prices in the United States and India for July 30, 2022, using Linear Regression and Granger's Causality models.

Copper Scrap Prices are inherently related to Copper Base Metal Prices. Copper Scrap price forecasting helps us understand current market trends in the scrap business and the external factors that influence Copper pricing and Copper Scrap Prices.

Copper Scrap Prices Forecast for July 30, 2022, in the US & Canada

Copper Scrap Predicted Price
Copper #1 (US) $ 3.00
Copper #2 (US) $ 2.64
Brass (US) $ 1.61
Hard Brass (Canada) $ 3.63
Copper #1 (Canada) $ 4.17
Copper #2 (Canada) $ 3.97
Copper #3 (Canada) $ 3.90
Copper Radiators (Canada) $ 2.50
Sheet Copper (US) $ 2.37

Graphical Representation of COMEX Copper Base Metal Price (US)

Copper Scrap Price Forecast: US & Canada – (July-30-22)

Impact Of Supply & Demand Issues On Copper Scrap Prices

According to customs data, imports of Copper Scrap materials totalled 716,100 MT from January to May 2022, representing a 6.74 per cent increase yearly.

Due to the recent drop in Copper prices, overseas suppliers are inclined to supply/export Copper Scrap because they do not see any profit in it; meanwhile, global demand for Copper Scrap rises while domestic demand remains low.

However, in the coming days, it’s hard for the Copper Scrap prices to expand to the previous high level amid the falling Copper prices. And the low Copper prices are forming a negative impact on Copper Scrap’s demand and supply.

Unless Copper prices recover from their lower levels, Copper Scrap prices will also trade on the negative side. While I write this article, Copper Scrap prices in the United States are trading at,

Copper No.1 Scrap Prices (US): 2.79 USD/Lbs

Copper No.2 Scrap Prices (US): 2.34 USD/Lbs

Sheet Copper Scrap Prices (US): 2.19 USD/Lbs

Brass Scrap Prices (US): 1.64 USD/Lbs

Also, Copper Scrap Prices in Canada are at,

No.1 Copper Scrap Prices (Canada): 3.78 CAD/Lbs

No.2 Copper Scrap Prices (Canada): 3.48 CAD/Lbs

No.3 Copper Scrap Prices (Canada): 3.43 CAD/Lbs

Hard Brass Scrap Prices (Canada): 3.35 CAD/Lbs

Copper Radiators Scrap Prices (Canada): 2.20 CAD/Lbs

Daily Scrap Prices is now accessible on WhatsApp; sign up now to receive daily Copper Scrap Prices in seconds via WhatsApp.

Is Copper Base Metal Pricing Rising At The End Of July?

Copper prices climbed up 3.25% from the previous closing prices, touching $3.49 per pound in the CME futures on July 28, 2022.

Copper prices rose on Thursday as major producers alerted of supply risks amid concerns about demand, while a weaker dollar made the metal cheaper for holders of other currencies.

US Dollar Index

The dollar slipped for a fourth straight session on an interest rate hike decision from the US Federal Reserve.

On the Supply Side

Copper prices increase on supply disruption in the largest Copper mines amid demand concerns. Due to the ongoing protest in the world’s largest Copper mine (Chile and Peru), Copper supply was muted.

MMG announced that it had suspended its Copper production targets for the year due to a 60 per cent drop in output caused by a long protest at its Las Bambas mine in Peru. On the other hand, last week, Vale and Antofagasta cut their 2022 Copper production outlook.

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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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