NEW YORK Copper
scrap discounts were steady Feb. 19 as market participants said
tepid trading activity and limited movement on terminal markets
had quelled price volatility.
Several sources said
that difficult weather conditions across much of the Midwest
and Northeast had caused supply to tighten over the past week.
"The market is very quiet at the moment and it would appear
that scrap supply is tight," one copper scrap trader told
AMM, adding that "flow into dealer yards is very
The trader noted that
he had seen steady demand from consumers because of "lost days
due to the difficult weather. ... Most are working through
Others speculated that
copper scrap markets likely would see "limited movement"
through the end of February. "Most people I talk to have said
that there wont be anything happening until March," a
second trader said. "Until the weather clears up or supply
improves, it seems like people are not eager to do a ton of
business right now."
Comex copper contract, the most actively traded, settled at
$3.2855 per pound Feb. 19, up nearly 1.1 percent from $3.2505 a
Meanwhile, prices for
brass scrap were unchanged Feb. 19, with market participants
telling AMM that Comex copper increases were not
"dramatic enough" to shift price quotes.