Copper Scrap Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Copper Scrap in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Copper Scrap Price Trend for Second Half of 2023

In the third quarter of 2023, despite low demand from European plants, scrap prices in Germany rose due to increased exports to Asia, particularly India and Pakistan. European steel mills continued to purchase minimal scrap volumes with no signs of improvement in their demand dynamics, attributed to crises in construction, automotive, and machine-building industries leading to high finished product stocks and decreased demand for rebar.

Copper Scrap Price Chart

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Despite expectations of sustained export demand supporting prices amid limited raw material availability, German, and European steel mills, notably in Italy, registered unstable October procurement rates amid changing preferences of the consumers and dim outlook of the downstream industries. The fourth quarter, thus, failed to carry forward the momentum from the previous quarters as the worldwide trade challenges intensified due to the disruption of the Red Sea route.

Overall, the global scrap market in early September witnessed instability, with slight increases in Turkey amid higher freight rates and US anticipated price drops alongside Chinese market declines due to increased supply from overseas players.

Analyst Insight

According to Procurement Resource, the price trend of Copper Scrap is estimated to showcase some recovery in the upcoming quarters as the demand and availability of raw materials are expected to remain scarce in the global markets.

Copper Scrap Price Trend for the First Half of 2023

In the first quarter of 2023, the prices of copper scrap in the US were under the pressure of high rates of inflation and recession-like market conditions that hampered its growth. The effect of the failure of major US banks was not only limited to the North American region as even in China, the production activities slowed down due to weak movement of the economy. The tight supply of copper further affected the market sentiments of copper scrap negatively.

The demand sector, however, showed positive sentiments as the demand from the renewable energy sector and electric vehicles industries surged during the first quarter. The global shift towards green sources of energy proved to be beneficial for the markets of solar panels, wind energy systems, etc., all of which employ copper products heavily, thus supporting the market activities of copper scrap.

However, in the second quarter, Chinese manufacturing activities contracted, especially in April, due to the fall in the number of new orders. The poor domestic demand for copper scrap, slowing down of market momentum, and decline in consumption rates of consumers pushed the price trend of copper scrap towards the south.

Analyst Insight

According to Procurement Resource, the price of Copper Scrap is expected to showcase an oscillating trajectory due to the uncertainties in the trading activities and demand from the downstream industries.

Procurement Resource provides latest prices of Copper Scrap. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.