Copper scrap discounts slip as supply tightens

Oct 04, 2013 | 02:32 PM | Everdeen Mason

Tags  copper scrap, No. 1 copper, comex, Everdeen Mason

NEW YORK — No. 1 copper scrap supply has tightened recently, more so than the oft-sparse bare bright, copper scrap market participants said.

"No. 1 is increasingly difficult to find," one copper scrap seller said. "There’s a lot of demand and that’s why spreads are staying so tight."

Refiners’ No. 1 copper scrap discounts have fallen to 6 to 8 cents per pound from 8 to 10 cents previously, putting the price at $3.24 to $3.26 per pound based on the Comex copper cathode contract for December that settled at $3.316 per pound Oct. 2. The Comex fell nearly 5 cents to $3.2685 per pound Oct.....

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