US copper scrap discounts decline

Jun 27, 2013 | 04:53 PM | Nathan Laliberte

Tags  copper scrap, brass scrap, comex, No.1 bare bright, Nathan Laliberte

NEW YORK — Discounts for most copper scrap grades narrowed June 26 as market participants said that lower Comex prices coupled with ongoing supply concerns had caused spreads to tighten.

Brass mill No. 1 copper scrap is trading between flat Comex and 2 cents under Comex compared with a discount of 1 to 3 cents previously, putting prices at $3.02 to $3.04 per pound based on a July-delivery Comex copper contract settlement price of $3.041 per pound June 26.
Refiners’ No. 1 copper scrap discounts dipped to 8 to 10 cents per pound below Comex from a 9- to 11-cent discount a week earlier, putting prices at $2.94 to $2.96 per pound, while the No. 2 copper scrap discount fell to 23 to 25 cents below Comex (putting prices at $2.79 to $2.81 per pound) from 24 to 26 cents. ....

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