Scrap prices follow copper’s lead as high grades stumble

Nov 08, 2007 | 07:58 PM | Sean Barry

U.S. copper scrap prices have nose-dived as demand for raw materials dries up and primary copper on the Comex division of the New York Mercantile Exchange goes into freefall.

The bottom continued to fall out of the copper market Friday, with December-delivery prices on Comex plummeting 5.85 cents (1.8 percent) to settle at $3.1455 a pound vs. the previous day's close at $3.204 a pound. Copper had closed out the previous week at $3.325 a pound.....

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