Export competition “is pulling the brass scrap prices up,” a copper scrap seller said.
A copper trader agreed, adding that “the copper spreads are the same, but brass scrap is going opposite to copper scrap.”
Indeed, most copper scrap discounts moved lower over the past week, while most brass scrap prices rose.
Fastmarkets assessed the copper scrap No2 copper, discount, buying price, delivered to refiners at 37-39 cents per lb on Wednesday March 11, down by 1 cent from 38-40 cents per lb the previous week.
The discounts for brass ingot makers’...