US Cu scrap spreads widen on lack of buying

Several major copper scrap buyers stayed out of the market in the week to Wednesday September 9, which lead to increased discounts for some grades in the United States

“The spreads are wide as many mills are not buying currently,” a scrap trader said, adding that some ingot makers are also undergoing planned outages. “The big buyers are out, even the Chinese have backed off a bit from buying scrap,” a scrap seller said. Fastmarkets assessed the No1 bare bright, discount, buying price, delivered to brass ingot makers at 14-15 cents per lb on September 9, narrowing upward from 13-15 cents per lb the week before. The discount for brass ingot makers’ No1 copper scrap widened upward to 22-24 cents per lb from 22-23 cents per lb...

Published

September 10, 2020

21:07 GMT

New York