Cold weather hits copper scrap supply

Jan 24, 2013 | 12:19 PM | Nathan Laliberte

Tags  Copper scrap, scrap prices, bare bright copper scrap, radiators, 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 scrap—commonly called Candy—also rose a penny to 8 to 10 cents per pound from 7 to 9 cents. ....

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