US brass scrap prices rise on export demand

The discounts for brass mill No1 copper and for brass ingot makers’ light copper scrap tightened in the week to Wednesday February 26, moving in tandem with the falling Comex copper price, but increased export demand supported most brass scrap tags.

Some copper scrap discounts tightened as the Comex copper price softened in the wake of the novel coronavirus (2019-nCoV) spreading outside China.
The most actively traded May-delivery Comex copper contract settled at $2.5735 per lb on February 26, down by 1.5% from $2.614 per lb one week earlier and down by 10.5% from a year-to-date high of $2.875 per lb reached in mid-January.

Fastmarkets assessed the copper scrap No1 copper, discount, buying price, delivered to brass mill US at 11-12 cents per lb on Wednesday, falling from...

Published

Rijuta Dey Bera

February 27, 2020

23:11 GMT

New York