Copper scrap market said hard to gauge

Nov 14, 2013 | 04:11 PM | Nathan Laliberte

Tags  copper scrap, brass scrap, copper scrap discounts, Comex copper, No. 1 bare bright, scrap prices, Nathan Laliberte

NEW YORK — Discounts for most grades of copper scrap fluctuated Nov. 13 as buyers and sellers said recent drops in primary metal prices were making spreads very "difficult to gauge" and the overall market "very tough to call."

The December-delivery Comex copper contract, the most actively traded, settled at $3.1595 per pound Nov. 13, its lowest level since July 31 and down nearly 2.4 percent from $3.237 per pound a week earlier. The contract edged up slightly Nov. 14, settling at $3.1605 per pound.....

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