“We are long on inventory and commitments for brasses; we just we just want copper,” one consumer source said.
The discounts for brass ingot makers’ No1 bare bright and light copper scrap both declined by 1 cent, to 5-7 cents per lb and 41-43 cents per lb, respectively, in Fastmarkets AMM’s latest assessment on Wednesday February 6. The discount for brass ingot makers’ No2 copper scrap shed a penny on the upper end of the range, tightening to 31-32 cents per lb.
All other copper scrap discounts were unchanged.
Market participants noted that the tightening of some copper scrap discounts - despite firm gains on Comex - signals that spot availability of...
