US copper scrap participants wait out Comex volatility

Some copper and brass scrap prices have inched lower in the USA as market participants shift to the sidelines amid continued Comex volatility and rising overseas competition.

“Spreads have come down because the market dropped, but we’ve been laying low and haven’t quoted much. We have enough prompt scrap coming in. We want to see what happens. The Chinese are starting to show interest in copper, but we’re just leaving prices for a few days in a wait-and-see mode,” one consumer source said. A second consumer has not been able to buy much at previous levels, but hopes that tighter spreads will increase the mill’s ability to make purchases. Another consumer said it has been...


Bradley MacAulay

April 21, 2017

02:21 GMT