Copper Scrap Prices

Copper Scrap Prices H2 2023

In the second half of 2023, the price of copper scrap in the United States reached 6027 USD/MT.

Copper Scrap Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Copper Scrap Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of copper scrap pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of copper scrap at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of copper scrap price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing copper scrap price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Copper Scrap Market Analysis

The global copper scrap market size reached 10.30 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 12.87 Million Tons, at a projected CAGR of 2.50% during 2023-2032.

• The demand for scrap copper is influenced by its high conductivity and reliability, making it valuable in electronic devices that are increasingly available, even in areas where electronics are not the primary commercial asset.
• Rising environmental concerns and stringent government regulations favor scrap copper recycling to minimize carbon emissions. Sustainability initiatives and waste reduction drive the demand for recycled copper.
• Governments and industries globally are increasingly adopting circular economy principles, which emphasize minimizing waste and maximizing resource efficiency.
• Copper scrap is more affordable compared to mining and producing new copper from ore, thereby minimizing the energy employed in extracting clean copper supplies. Straight reprocessing surplus scrap requires significantly less energy than processing raw resources. These costs make recycled copper attractive to manufacturers that aim to lower production costs.
• Innovations in recycling technology aid in producing cleaner and more efficient recycled copper.
• The significant rise of copper usage is further impelled by the transition towards renewable energy such as wind and solar power, which fuels the demand for copper used in electrical components. Copper recycling helps meet this demand sustainably and cost-effectively.
• Rapid urbanization and infrastructure development, especially in emerging economies, require large amounts of copper for building and electricity installation. Recycled copper provides a reliable source to meet these larger needs.
• Copper has a high recovery rate, making it an excellent material for recycling. This high level of copper ensures that more copper can be recycled, thereby contributing to the stability of the market supply chain.
• The expansion of the automotive industry, especially as the rise of electric vehicles is driving the demand for copper scraps due to its increasing use in electrical systems.
• Recent disruptions in global supply chains, such as those caused by geopolitical tensions or natural disasters, have highlighted the importance of supply chain resilience. Manufacturers are increasingly turning to recycled copper as a dependable and locally available alternative to imported raw materials.

Copper Scrap News

The report covers the latest developments, updates, and trends impacting the global copper scrap market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the copper scrap price trend.

Latest developments in the copper scrap industry:

• August 22, 2023: Copper and aluminum producer Hindalco Industries announced plans to invest Rs 2,000 crore to set up a copper and e-waste recycling plant.
• July 3, 2023: Marex acquired recycled metals market maker, Global Metals Network (‘GMN’), based in Hong Kong. This allows eligible counterparties and professional clients to gain access to GMN's top-tier clients primarily located in Asia, thereby adding more regional coverage to Marex's existing product diversity in steel scrap.

Product Description

Copper scrap refers to discarded or obsolete copper material, which can be recycled and used in various applications. The industrial uses for copper scrap range from electronics to construction and renewable energy to automotive manufacturing. Some of the common scrap materials include copper wire, pipes, electrical components, tools, and mechanical joints. The process of obtaining copper scrap includes collecting, sorting, and melting down the copper so that impurities can be removed. Following the steps, a high-quality recycled copper is produced which still retains the same properties of the metal, such as high electrical conduction capacity and corrosion resistance.

In addition to helping meet the ever-increasing international need for copper, efficient recycling of copper scrap gives significant benefits to the environment by saving natural resources. Copper recycling helps in saving energy consumption and reduces greenhouse gas emissions, hence supporting sustainable development programs and helping in conservation.

Regional Coverage

The report provides a detailed analysis of the copper scrap market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the copper scrap price trend. 

Global Copper Scrap Price

The report offers a holistic view of the global copper scrap pricing trends in the form of copper scrap price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price of copper scrap but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed copper scrap demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Copper Scrap Price

Europe's copper scrap pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence copper scrap production costs. Additionally, the region's dependency on copper scrap imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for copper scrap can also be provided for an extensive list of European countries.

North America Copper Scrap Price

In North America, copper scrap prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence copper scrap supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific copper scrap historical data within the United States and Canada can also be provided.

Middle East and Africa Copper Scrap Price

The copper scrap pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global copper scrap supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Copper Scrap Price

In the Asia Pacific region, copper scrap pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of copper scrap, making the Asia Pacific market a complex environment for price trend analysis.

This copper scrap price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Copper Scrap Price

Latin America's copper scrap market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in copper scrap prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing copper scrap pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of copper scrap pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting copper scrap price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The copper scrap price charts ensure our clients remain at the forefront of the industry.