NEW YORK Brass scrap prices have moved up as higher export tags are forcing domestic consumers to pay more to secure material, while prices for copper scrap remained unchanged.
Radiators strengthened by 1 cent to a range of $2.27 to $2.30 per pound Jan. 30, up from the Jan. 23 range of $2.26 to $2.29.
"The export market for radiators is really good right now, especially to China," noted one seller of brass scrap. "Supply is low and demand seems relatively high."
"There seems to be a real pickup in overseas activity," a second seller said. "Chinese consumers have entered the market in full force."
Yellow brass solids rose by 3 cents to a range of $2.17 to $2.20 per pound, up from $2.15 to $2.17 previously.
Red brass solids increased to $2.68 to $2.70 per pound from $2.68 to $2.68 previously, while borings and turnings moved up to $2.65 to $2.67 per pound from $2.63 to $2.66 on Jan. 23.
The rise in copper prices on Comexs most actively traded contract to above $3.70 again this week is having little effect on the copper scrap market, a source told AMM.
"We have been pretty busy this week, but prices have remained relatively flat," one copper scrap seller said. "Even when Comex dropped off slightly, there seemed to be a lot of support. If Comex continues to rise, prices for scrap will definitely start to inch up."