Copper scrap tags steady despite increase on Comex

Nov 30, 2009 | 11:51 AM | Anne Riley

Copper scrap prices continue to hold steady on the back of weak physical demand, even as the primary market flirted with 14-month highs in New York.

Copper for March delivery closed at $3.177 a pound on the Comex division of the New York Mercantile Exchange on Monday, up 1.6 percent from $3.1255 Friday. But increasing primary copper prices are not being reflected in the secondary market, with demand for the red metal continuing to lag, brass and bronze ingot makers told AMM.

"I don't think scrap is following this market yet. I don't think there's any big demand," an ingot maker said.....

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