The Davis Index for brass scrap was better for all grades after the Comex market hit another high for the year. Good demand from the sheet mills against tight supply in the US is also raising the pricing.
The weekly Davis Index for 360-rod borings increased by 5.1¢/lb to $2.411/lb delivered US consumers and was higher for brass radiators at $1.89/lb delivered US consumer, better by 2¢/lb.
The weekly Davis Index for the C-200 series alloy copper spread was tighter at 13.3¢/lb under the Comex spot contract, better by 0.9¢/lb. Simultaneously, the C-200 series zinc spread was weaker by 0.2¢/lb at 5.9¢/lb under the LME zinc cash contract.
The Comex spot copper contract was 1¢/lb higher at $3.52/lb on Friday from its close on Dec 4, while the spot LME zinc official contract increased by $57/mt from Dec 4 to close at $2,805.50/mt on Friday.
Sheet mills continue to benefit from strong ammunition sales and retailers are finding it hard to keep bullets stocks on their shelves due to such high demand, mostly attributable to the administration change at the White House set for January, 2021.