“We have never been busier, and I have never seen prices of copper and brass scrap like this,” a brass ingot maker said. “For the first time, we are paying more for brass scrap for melting into ingots than we get for selling copper scrap to mills.”
A scrap trader said that the unusually high prices for copper and brass scrap was a result of “short term tightening as people restock to start the year.”
“With Comex values soaring, I expect spreads to widen out,” the trader said, referring to a Comex copper price that has...
