The rally on the copper market continues. The LME copper price surged by around $600 per tonne in the second full week of May and exceeded the $14,000 mark for the first time in history. The boom on the metal exchange also drove copper scrap prices to unprecedented levels.
According to the news agency MBI, wholesale purchasing prices for copper scrap on the German market increased by between €30 and €55 per 100 kilogrammes last week, depending on the grade. Prices for brass scrap rose by €15-25 per 100 kg. Scrap zinc became €10 more expensive in the past week compared to the first week of May.
By contrast, aluminium scrap prices remained at the previous week’s level despite similarly positive signals from the metals exchanges. Prices for the stainless steel scrap grades V2A and V4A also remained stable.
Subscribers can access the MBI price table for non-ferrous scrap metals in Germany along with historical data and market tools using the button below:
