Supply crimp supports copper scrap pricing

Feb 07, 2013 | 05:10 PM | Nathan Laliberte

Tags  copper scrap, scrap prices, Comex copper, No. 1 copper scrap, No. 2 copper scrap, brass scrap, bare bright, Nathan Laliberte

NEW YORK — Tight supply helped copper scrap prices hold steady Feb. 6 as feedstock concerns outweighed lackluster spot demand.

"Red metal seems to be holding strong because of diminished inventories," one trader told AMM.

Discounts on brass ingot makers’ No. 1 copper scrap narrowed to 20 to 22 cents below Comex, to a price range of $3.52 to $3.54 per pound, vs. a 21- to 23-cent discount on Jan. 30, also $3.52 to $3.54 per pound. Discounts on No. 2 copper scrap also tightened to a range of 36 to 40 cents....

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