Cold weather hits copper scrap supply
Jan 24, 2013 | 12:19 PM
| Nathan Laliberte
NEW YORK Copper and brass scrap prices moved mostly sideways this past week, with some grades shifting a penny in either direction as the market awaits stronger cues from the supply chain.
Market participants said that an increasingly scarce supply due to the cold weather could narrow price spreads between scrap and terminal markets.
Discount spreads off Comex for bare bright copper scrap sourced by ingot makers inched up to 9 to 12 cents per pound from 8 to 11 cents previously, while spreads on brass mill No. 1 scrapcommonly called Candyalso rose a penny to 8 to 10 cents per pound from 7 to 9 cents. ....
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