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
"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
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."