The Davis Index for brass scrap moved higher in tandem with the Comex market, which climbed above the three-dollar mark again this week.
The copper exchange has moved within a 15¢/lb range over the past three weeks. The market started at $3.12/lb on Sep 18 and bottomed out at $2.87/lb on Oct 1 before settling right back at $3.08/lb on Friday.
The weekly Davis Index for 360-rod borings increased by 1.7¢/lb to $2.098/lb delivered US consumers and climbed for brass radiators by a penny to $1.663/lb delivered US consumer. Red brass (85:15) increased by 2.8¢/lb to $2.608/lb delivered, while mixed red brass rose by 1.7¢/lb to $2.055/lb delivered.
The weekly Davis Index for the C-200 series alloy copper spread was flat at 11.4¢/lb under the Comex spot contract, while the C-200 series zinc spread was flat at 6¢/lb under the LME zinc cash contract.
The Comex spot copper contract was up on Friday at $3.08/lb from $2.978/lb on Oct 2, while the spot LME zinc official contract increased by $113.50/mt from Oct 2 to close at $2,415.50/mt on Friday.
Brass mills continue to have better demand for finished goods than their copper counterparts, but the scrap market is well supplied and has kept spreads wide for the moment.