Rising Comex copper price eases US copper scrap flows

Copper scrap flows in the United States have begun strengthening due to an increase in the Comex copper price and a seasonal uptick in scrap production during the summer months, but this modest increase in supply has not yet eased copper scrap discounts.

The most active July-delivery Comex copper contract settled at $2.4875 per lb on Wednesday June 3, up by 4.4% from $2.382 per lb one week earlier.

Flows into scrapyards had been hampered in recent months by reduced industry activity and restrictions put in place to limit the spread of the novel coronavirus. In the United States and Mexico, inflows fell to 35-70% of normal levels, according to...

Published

Rijuta Dey Bera

June 04, 2020

22:41 GMT

New York