US copper, brass scrap prices boosted by offshore demand

Strong overseas demand is putting the heat on domestic copper and brass scrap markets in the United States, with some consumers hiking up prices in an effort to keep metal inland.

Discounts for refiners’ No 1 copper dipped by a penny, while that for refiners’ No 2 copper shed 1 cent on the upper end of the range. Discounts for brass ingot makers’ No 1 copper, No 2 copper and light copper all narrowed by a penny, according to American Metal Market’s assessment.
Meanwhile, prices for brass ingot makers’ No 1 composition solids and composition borings and turnings both increased by 3 cents per lb on Wednesday March 7, and radiators gained 1 cent per lb.

Market participants associated aggressive overseas offers with the new scrap import...

Published

Bradley MacAulay

March 09, 2018

01:57 GMT