Copper scrap discounts slip as purchases rise

May 22, 2014 | 03:38 PM | Saranya Kapur

Tags  copper scrap, copper scrap spreads, No. 1 copper scrap, ingot makers, Comex, China PMI, HSBC, Saranya Kapur

NEW YORK — The spread on No. 1 copper scrap narrowed this week due to more aggressive buying from mills, with end market demand improving heading into summer.

The discount on refiners’ No. 1 copper scrap narrowed to 6 to 7 cents from 7 to 8 cents previously, while the discount on No. 1 copper scrap sold to ingot makers tightened to 6 to 8 cents from 8 to 10 cents. ....

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