Copper scrap markets shift down

Sep 05, 2013 | 04:28 PM | Everdeen Mason

Tags  copper scrap, copper, scrap prices, Comex, red brass, ingot makers' scrap, bare bright, Everdeen Mason

NEW YORK — The ingot makers scrap market has lost some ground due to holidays and fluctuations in copper prices, traders and buyers told AMM, with some anticipation of further declines ahead.

"Consumers bought a bit when prices were down, but when the prices moved up the market came down," one copper scrap trader said.

The discount for ingot makers’ bare bright narrowed to 4 to 6 cents per pound from 3 to 6 cents previously, putting prices at $3.18 to $3.20 per pound based on a Sept. 4 Comex price for December delivery, the most actively traded contract.....

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