US copper, brass scrap market shaken by Chinese import tariffs

Brass scrap prices in the United States have plummeted and most copper and brass scrap discounts have widened over the past week, driven by ample domestic supply - exacerbated by China’s 25% tariff on copper scrap imports - exceeding US demand.

Still, a slight recovery in Comex copper prices may have moderated the price slide. The September-delivery Comex copper contract closed at $2.6735 per lb on Wednesday August 22, up more than 10 cents per lb - or 4.4% - from $2.56 per lb on August 15. The discount for brass mills’ No 1 copper widened by 1 cent on the high end to 9-11 cents per lb; those for brass ingot makers’ No 1 bare bright and light copper scrap both rose by 1 cent to 9-11 cents per lb and 45-47 cents per lb, respectively. And the discount for brass ingot...

Published

Michael Roh

August 23, 2018

22:32 GMT

New York