US copper scrap prices inch up as futures climb

Nov 11, 2009 | 11:49 AM | Anne Riley

Brass ingot makers' copper scrap prices are rising on a buoyed primary market, even as a lack of Chinese activity continues to keep domestic metal flowing.

All grades of copper scrap have ticked higher over the course of the week at the hands of racing futures prices, brass and bronze ingot makers in the North American market said. On Wednesday, three-month copper closed second-ring trade on the London Metal Exchange at $6,621.50 per tonne, up 2.1 percent from $6,488 per tonne a day earlier. In New York, December-delivery metal on the Comex division of the New York Mercantile Exchange touched a high of $3.0375 per pound Wednesday before pulling back on a stronger dollar to close at $2.966, up slightly from the previous day's $2.9615 per pound.....

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