Comex weakness, holiday lull sink copper scrap tags

Dec 18, 2006 | 04:43 PM | Sean Barry

U.S. copper scrap prices have tumbled as primary metal on the Comex division of the New York Mercantile Exchange weakens and demand for scrap slows ahead of the Christmas holiday shutdown.

Business activity from Chinese consumers, the largest buyers of scrap over the past two years, remains sparse, while domestic mills are running down inventories ahead of year-end.

Brass ingot makers' No. 1 copper scrap dipped 2 cents in the East and 3 cents in the Midwest to $2.79 a pound. The red brasses also have weakened, with composition solids falling 3 cents to $2.11 a pound in the East and the Midwest.....

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