The Davis Index for brass scrap was slightly higher on Friday, amid a volatile Comex market. Consumers and scrap dealers have been in and out of the market over the past few weeks, making it difficult to gauge demand moving forward.
The weekly Davis Index for 360-rod borings increased by 0.04¢/lb to $1.609/lb delivered US consumer on Friday, while the index for brass radiators was flat at $1.481/lb delivered. The index for red brass (85:15) solids rose by 2.1¢/lb to $1.989lb delivered US consumer.
The weekly Davis Index spread for copper for the C-200 series alloy was flat at 12.3¢/lb under the Comex cash contract, while the zinc spread for the C-200 series was slightly wider by 0.07¢/lb at 7.9¢/lb under under the LME Zinc spot contract.
The Comex cash copper contract closed at $2.32/lb on Friday, down 2¢/lb, from a week ago, while the official three-month LME zinc contract rose by $36/mt on Friday to $1,910/mt from $1,874/mt on April 24.