Discounts for most copper scrap grades were unchanged Aug. 21
as limited volatility on Comex coupled with steady demand kept
things relatively stable over the past week, market
One copper scrap buyer
said that the past seven days had been extremely quiet in terms
of trading activity. "I think people are waiting for the market
to change one way or the other," he said.
The only grades to see
discounts adjusted were ingot makers copper scrap No. 2,
which increased to a 24- to 26-cent-per-pound discount from 23
to 25 cents previously, and light copper, which edged up to 32
to 34 cents per pound from 31 to 33 cents. This put copper
scrap No. 2 prices at about $3.05 to $3.07 per pound and light
copper prices at $2.97 to $2.99 per pound, based on the Aug. 21
Comex copper price for September, the most actively traded
contract, of $3.3065 per pound.
Meanwhile, brass scrap
prices were steady, with traders saying that muted
international demand was being countered by a slight increase
in domestic buying.
Red brass (No. 1
composition solids) held at $2.51 to $2.55 per pound,
composition borings and turnings were firm at $2.45 to $2.50
per pound, radiators stayed at $2.15 to $2.19 per pound and
yellow brass solids, largely an export item, were unchanged at
$2.11 to $2.14 per pound.