Copper scrap prices being pulled in two directions

Dec 03, 2007 | 12:20 PM | Sean Barry

Higher grades of U.S. copper scrap have risen in the past week in step with primary metal prices on the New York Mercantile Exchange, but lower grades continued to slip on lack of demand.

Copper for March delivery on the Comex division of Nymex touched $3.20 a pound at one point Monday before finally settling at $3.0785, down from $3.097 a pound Friday but up from prices that danced around the $3 mark earlier last week. Deepening concerns over the slowdown in the U.S. residential construction market and its impact on the wider economy and rising stocks helped propel Monday's fall.....

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