US copper scrap discounts rise on Comex strength

Copper scrap discounts in the United States rose this week in response to the strong Comex copper price, along with slowing demand as some mills finished purchasing scrap metal for the month.

“There has been a little widening of spreads due to the high Comex,” a scrap seller said.
A copper scrap trader said that “some spreads had tightened from mid-December, but now that a couple of mills have filled up on orders, the spreads are loosening again.”
The most-active March-delivery Comex copper contract settled at $3.617 per lb on Wednesday January 13, down 0.9% from $3.6505 per lb the week before.

Fastmarkets assessed the copper scrap No1 copper, discount, buying price, delivered to brass mill US at 11-13 cents per lb on Wednesday,...

Published

Rijuta Dey Bera

January 14, 2021

23:29 GMT

New York