Supply concerns resurface in US copper scrap market

Lingering concerns of supply tightness for high-grade copper scrap items in the United States have put some pressure on discounts, while Comex gains helped to lift some brass scrap prices.

“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...

Published

February 07, 2019

21:38 GMT

Pittsburgh