Discounts for some copper scrap grades slipped June 19 as
market participants said that downward movement on Comex had
caused spreads to tighten slightly.
Discounts for brass
mill No. 1 copper scrap fell to 1 to 3 cents below Comex from 2
to 4 cents previously, putting prices at $3.11 to $3.13 per
pound based on a July-delivery Comex copper contract settlement
price of $3.141 per pound June 19.
The discount on
refiners No. 1 copper scrap dipped to 9 to 11 cents below
Comex from a 10 to 12 cent discount a week earlier, putting
prices at $3.03 to $3.05 per pound.
understand why Comex is trending down; its out of the
physical realm," one copper scrap trader told AMM.
"The availability of good brass scrap and copper scrap is
simply not there. You would think it would have some bearing on
the situation, but that is not the case."
Meanwhile, prices for
some grades of brass scrap decreased June 19, with sources
indicating that international demand had weakened over the past
"Demand is way down
right now. All my Indian buyers are saying money is tight," one
scrap seller said. "India doesnt want to make a
commitment, Korea has exited the market and China wants to
steal the metalits a very challenging market right
Red brass (No. 1
composition solids) fell to $2.53 to $2.57 per pound from $2.56
to $2.60 previously, composition borings and turnings moved to
$2.48 to $2.53 per pound from $2.51 to $2.56 and yellow brass
solids declined on the low end to $2.10 to $2.13 per pound from
$2.11 to $2.13 June 12.
Radiators held steady
at $2.13 to $2.17 per pound, as sellers indicated that an
ongoing supply shortage was keeping prices at above-market
All other secondary
grades were unchanged.