US copper scrap market mixed; all eyes on China

Copper and brass scrap markets in the United States are in a state of flux, with market participants rapidly working to digest how China’s 25% blanket tariff on imports of recycled copper from the US will affect domestic pricing.

Most consumers immediately stepped to the sidelines on Wednesday August 8 following China’s announcement that this tariff would apply to products under Harmonized Tariff Code 7404.00, which refers to copper waste and scrap, and would become effective August 23. Copper and brass scrap prices registered mixed moves, however, with some copper spreads narrowing due to an earlier tightness in scrap flows, while brass scrap prices slipped due to lingering softness on Comex and mixed demand, according to market participants. The September-delivery Comex contract closed at $2.751 per lb on August 8, up 0.1% from $2.7475 per lb on...

Published

Bradley MacAulay

August 09, 2018

22:57 GMT

Pittsburgh