Copper scrap prices pushed higher by primary metal gains on Comex

Dec 05, 2006 | 09:45 AM | Sean Barry

U.S. copper scrap is finding support from firmer primary metal prices on the Comex division of the New York Mercantile Exchange.

Although the 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 are still hard to secure.

"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. If you need to buy a large tonnage of scrap, then it's a challenge."....

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