Higher Comex helps lift copper scrap prices

Dec 05, 2006 | 05:10 AM | Sean Barry

U.S. copper scrap prices are getting support from firmer prices for primary metal on the Comex division of the New York Mercantile Exchange and steady demand for raw material.

Although availability of copper scrap has improved in recent weeks in light of the continuing absence of Chinese buyers and softer domestic demand, traders said large quantities of material were still hard to secure. "The Comex has seen some small upside movement and copper seems well supported at this level," one trader said. "Demand for metal has been steady. There's an improved flow of material, but there's still not an abundance of scrap.....

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