US brass scrap prices near 3.5-year high

Aggressive overseas demand is putting the heat on brass ingot makers in the United States and has propelled some brass scrap prices to a nearly three-and-a-half-year high.

Market participants have attributed the run-up in overseas demand to more stringent import regulations in China, which have offshore consumers vying for cleaner copper and brass scrap items in the US. The steady surge in demand, coupled with stiff domestic competition, is forcing some brass ingot makers to chase higher prices in order to keep material inland. Brass scrap prices for No. 1 composition solids and composition borings and turnings both increased by an average of 5.5 cents per lb on Wednesday January 31 and radiators rose by an average of 2.5 cents per lb to $2.02 to $2.04 cents per lb - all levels last witnessed in September...

Published

Bradley MacAulay

February 02, 2018

01:18 GMT