The Davis Index for brass scrap was flat to down for all grades on a Comex market that continued to decline on a weak US dollars over the week.
The weekly Davis Index for 360-rod borings decreased by 0.8¢/lb to $2.487/lb delivered US consumers and fell by half-a-penny for brass radiators to $1.92/lb delivered on Thursday.
The weekly Davis Index for the C-200 series alloy copper spread was flat at 13¢/lb under the Comex spot contract. Simultaneously, the C-200 series zinc spread was unchanged at 5.8¢/lb, under the LME zinc cash contract.
The Comex spot copper contract was lower by 3¢/lb at $3.52/lb from its close on Dec 23, while the spot LME zinc official contract decreased by $51.50/mt from Dec 23 to close at $2,775/mt.
Suppliers have stayed on the sidelines for the last two weeks as the US holidays have shifted production schedules at various levels in the supply chain. Moving into 2021, uncertainty over China’s impact on supply and demand could affect the market’s movements. The US market could face more pressure on pricing once suppliers become more comfortable with China’s new scrap classification specifications.