US copper, brass scrap supplies tighten
Apr 20, 2012 | 04:28 PM
| Chris Prentice
Tags
copper scrap,
brass scrap,
chris prentice
NEW YORK — The dwindling supply of copper and brass scrap in the United States due to the recent decline in commodity exchange prices and the slowdown in manufacturing is causing concern in the market.
"The flow of scrap has dried up pretty well on all items," one ingot maker told AMM.
Still-depressed industrial activity has translated into less scrap being generated, while the recent downturn in copper prices has seen sellers hold off selling in the hope that Comex prices will rebound.
"The scrapyards have said it’s slow coming into them," one scrap broker said. "When (the copper price on Comex) is pushing $4 per pound, people come in and dump mass quantities. . . . The guy on the street doesn’t want to come in and sell when the market’s at $3.62 (per pound)."....
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