Discounts for copper scrap widen in US

May 09, 2013 | 02:48 PM | Nathan Laliberte

Tags  copper scrap, brass scrap, comex, red brass, Nathan Laliberte

NEW YORK — Most copper scrap discounts widened May 8 as market participants said that the secondary market was reacting to a recent recovery in Comex pricing.
The discount for brass ingot makers’ No. 1 bare bright copper scrap increased to 5 to 7 cents per pound below Comex from a 3- to 5-cent discount a week earlier, putting prices at $3.30 to $3.32 per pound based on a July-delivery Comex copper contract settlement price of $3.3705 per pound May 8; discounts for No. 1 copper scrap widened to 14 to 16 cents below Comex, or $3.21 to $3.23 per pound, from an 11- to 13-cent discount; and....

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