Copper scrap pricing edges lower amid Comex fall, supply tightness
Oct 16, 2007 | 07:11 AM
| Sean Barry
The copper scrap market continues to be dominated by supply constraints and firm prices despite top grades edging down following primary copper's fall on the Comex division of the New York Mercantile Exchange.
Copper for December delivery sagged Tuesday morning to $3.638 a pound, down 4.8 cents from Monday's settlement at $3.686. The decline put downward pressure on higher grades of copper scrap, which often are pegged against the Comex. Brass ingot maker's No. 1 copper scrap slipped 5 cents a pound to $3.40 in the East and $3.39 in the Midwest, while No. 2 copper scrap fell 3 cents a pound to....
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