Discounts for copper scrap decline

Jul 11, 2013 | 02:08 PM | Nathan Laliberte

Tags  copper scrap, brass scrap, Comex, bare bright, copper scrap prices, scrap prices, Nathan Laliberte

NEW YORK — Discounts for most copper scrap grades slipped July 10 as market participants said ongoing supply shortages and solid demand continued to bolster prices.

Refiners’ No. 1 copper scrap discounts dipped to 6 to 8 cents per pound below Comex from 7 to 9 cents a week earlier, putting prices at $3.01 to $3.03 per pound based on a September-delivery Comex copper settlement price of $3.091 per pound. The No. 2 copper scrap discount fell to 20 to 22 cents from 22 to 24 cents, putting prices at $2.87 to $2.89 per pound.....

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