Copper scrap discounts up on Comex

May 23, 2013 | 03:42 PM | Nathan Laliberte

Tags  copper scrap, comex, red brass, Nathan Laliberte

NEW YORK — Most copper scrap grades saw discounts increase May 22 as a recent strengthening on the Comex, coupled with subdued domestic demand, caused spreads to widen, market participants say.

The discount for brass ingot makers’ No. 1 bare bright copper scrap moved to 4 to 6 cents per pound below Comex from a 3- to 5-cent discount a week earlier, putting prices at $3.32 to $3.34 per pound based on a July-delivery Comex copper contract settlement price May 22 of....

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