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

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by - 8/27/2022 504 Views

Copper Scrap prices in the US rose and hit 2-month highs on improved supply concerns amid a bleak economic outlook.

In general, Copper Scrap price forecasting guides Copper Scrap traders, investors, and scrap-related businesses in predicting when necessary price rises or drops will occur by analyzing supply and demand data.

Our RIM researchers analyzed the correlation between Copper Scrap prices and Copper Base Metal pricing with the help of Granger’s Causality/Linear Regression research models; predicted the Copper Scrap prices for August 30, 2022.

Copper Scrap Price Forecast in the US & Canada for August 30, 2022

Copper Scrap Predicted Price
Copper #1 (US) $ 3.16
Copper #2 (US) $ 2.78
Brass (US) $ 1.71
Hard Brass (Canada) $ 3.56
Copper #1 (Canada) $ 4.31
Copper #2 (Canada) $ 4.07
Copper #3 (Canada) $ 4.00
Copper Radiators (Canada) $ 2.58
Sheet Copper (US) $ 2.50

Graphical Representation of COMEX Copper Base Metal Price (US)

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

Copper Scrap Prices: Are Copper Scrap Prices Get A Boost At the End Of August?

Copper Scrap prices improved in the final week of August, indicating a positive signal of improved Chinese demand amid bleak global economic activity.

Copper Scrap prices fell in early August, trading between $2.80 and $3 per pound. Until then, Copper Scrap prices have continued to rise, reaching a five-week high of $3.15 per pound in mid-August, supported by moderate demand growth from the world's largest base metals and scrap metals consumer, "China."

Consequently, in the closing week of August, Copper Scrap prices hit 2-month highs on improved supply concerns from China. On the other hand, Copper Scrap import was moderately high because of falling Copper prices.

Copper prices have hit a 30% low from the March peak and an almost 15% low from the mid-July hike. The quickly falling Copper prices have tightened the supply and import of Copper Scrap, strengthening high Copper Scrap prices.

As the overseas market has recovered from the covid-19 pandemic, the demand for Copper Scrap was relatively great. Meanwhile, Copper prices have increased significantly since hitting 5-week highs, and Copper Scrap took profits at highs.

The rise and fall of Copper Scrap prices are commonly related to Copper pricing. As Copper prices continue to rise automatically, Copper Scrap prices also exceed.

Copper Scrap prices in the US rose to 2-month highs and are now trading at,

Copper No.1 Scrap Prices (US): 3.25 USD/Lbs

Copper No.2 Scrap Prices (US): 2.80 USD/Lbs

Sheet Copper Scrap Prices (US): 2.65 USD/Lbs

Brass Scrap Prices (US): 1.95 USD/Lbs

Also, Copper Scrap Prices in Canada are at,

No.1 Copper Scrap Prices (Canada): 3.89 CAD/Lbs

No.2 Copper Scrap Prices (Canada): 3.55 CAD/Lbs

No.3 Copper Scrap Prices (Canada): 3.45 CAD/Lbs

Hard Brass Scrap Prices (Canada): 3.30 CAD/Lbs

Copper Radiators Scrap Prices (Canada): 2.20 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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