The Davis Index for brass scrap was significantly better for all grades due to a robust Comex market on Friday.
The weekly index for 360-rod borings increased by 16.5¢/lb to $2.36/lb delivered US consumers and was higher by 15.2¢/lb for brass radiators at $1.89/lb delivered US consumer.
The weekly Davis Index for the C-200 series alloy copper spread was wider at 14.1¢/lb under the Comex spot contract, worse by 0.1¢/lb. Simultaneously, the C-200 series zinc spread narrowed by 1.2¢/lb to 5.7¢/lb under the LME Zinc cash contract.
The Comex spot copper contract was 20¢/lb higher at $3.51/lb on Friday from its close on Nov 27, while the spot LME Zinc official contract increased by $21/mt from Nov 27 to close at $2,748.50/mt.
Potential stimulus infrastructure in the US and China have the exchange markets moving higher, driving up the prices for brass scrap. However, disappointing employment rates after the US added fewer jobs in November compared with the previous six months, could stall the market’s rebound.