Falling Comex, softer demand pull down scrap prices

Dec 26, 2006 | 06:14 AM | Sean Barry

U.S. copper scrap prices have fallen as weak demand for raw materials continues and primary metal on the Comex division of the New York Mercantile Exchange slides.

Domestic consumers are remaining on the sidelines as they run down inventory ahead of the year-end, while Chinese merchants, the largest buyers of scrap over the last two years, enter the market sporadically, traders said.

Brass ingot makers' No. 1 copper fell 13 cents to $2.66 a pound in the East and Midwest; No. 2 declined by the same amount to $2.47 a pound in the East and $2.48 a pound in the Midwest.....

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