Copper scrap discounts widen

Sep 19, 2013 | 05:44 PM | Everdeen Mason

Tags  copper scrap, copper scrap discounts, red brass, Comex, Federal Reserve, brass ingot, copper, Everdeen Mason

NEW YORK — Copper scrap discounts are approaching range highs as Comex price logs gains, likely due to the Federal Reserve’s decision to maintain its stimulus program, market participants said.

"I don’t think scrap is getting cheaper, it’s just that when the price goes up there’s more upward pressure on the (discount)," one copper scrap broker told AMM. "It’s a response to the (Federal Reserve) not doing anything. We anticipated they would be buying less, but since they’re....

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