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Copper Scrap Price Forecast US & Canada (Sept-22-22)

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by - 9/20/2022 467 Views

Copper Scrap prices in the US have been fluctuating for more than two weeks on low demand concerns because of hawkish fed rate hikes.

Our RIM researchers analysed 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 September 22, 2022.

Generally, Copper Scrap price forecasting helps Copper Scrap traders and scrap-related businesses predict when necessary price increases or decreases by examining data related to supply and demand. Learning our Copper Scrap price predictions helps traders and investors make really good income by deciding the right time to buy/sell Copper Scrap.

Copper Scrap Price Forecast in the US & Canada for Sept 22, 2022

Copper Scrap Predicted Price
Copper #1 (US) $ 3.02
Copper #2 (US) $ 2.66
Brass (US) $ 1.64
Hard Brass (Canada) $ 3.46
Copper #1 (Canada) $ 4.15
Copper #2 (Canada) $ 3.90
Copper #3 (Canada) $ 3.82
Copper Radiators (Canada) $ 2.51
Sheet Copper (US) $ 2.38

Graphical Representation of COMEX Copper Base Metal Price (US)

Copper Scrap Price Forecast US & Canada (Sept-22-22)

Copper Scrap Prices Are Now At Sideways, But Not For Long-Term

Copper Scrap prices in the United States have been negative for more than two weeks following the Fed's hawkish rate hike. The bank's chairman, Jerome Powell, said the bank must continue to raise interest rates to stop inflation from becoming a permanent aspect of the US economy.

Copper Scrap prices have been decreasing and fluctuating since September, following the Fed Reserve's unexpected interest rate hike at the end of August. As an aggressive Federal Reserve raises interest rates to combat inflation, scrap metals demand falls, and the risk of scrap supply rises significantly.

The abrupt increase in interest rates would undeniably slow economic growth. As a leading indicator of global economic health, Copper Base Metal faces weakening demand and supply risks during periods of high inflation, further influencing Copper Scrap prices.

Copper prices in the CME futures are now trading at $3.54 per pound (Sept-20-22), which is 1.72% higher than the previous closing price and Copper prices are 1.94% lower from recent two week highs of $3.61 per pound (Sept-08-22)

The current downward momentum for Copper Scrap prices is considered only to be for the short term. Copper Scrap will rally once again as soon as the global economy stabilises and supply-demand issues are resolved.

Currently, Copper Scrap prices in the US keep dropping dramatically, fearing that upcoming interest rate hikes would dampen the global economic outlook and weaken Copper Scrap’s demand. As of now, Copper Scrap prices are trading at,

Copper No.1 Scrap Prices (US): 3.02 USD/Lbs

Copper No.2 Scrap Prices (US): 2.56 USD/Lbs

Sheet Copper Scrap Prices (US): 2.41 USD/Lbs

Brass Scrap Prices (US): 1.86 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): 2.23 CAD/Lbs

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Category : General

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