The weekly Davis Index for brass scrap delivered US declined on Friday because of a weak Comex market that has lost around 25pc of its value since its peak this year.
The Davis Index for 360-rod borings decreased by 11.3¢/lb to $1.561/lb, while the index for brass radiators dropped by 8.1¢/lb to $1.463/lb on Friday. The index for red brass (85:15) solids dropped by 29¢/lb to $1.821/lb.
The Davis Index for C-200 series alloy copper spread was flat at 12¢/lb under Comex and the index for C-200 series zinc spread remained unchanged at 8.1¢/lb under the three-month LME zinc contract.
The Comex copper next active contract settled on Friday at $2.13/lb down from $2.46/lb a week earlier.
The three-month LME zinc official price decreased by $153/mt on Friday to $1,848/mt, down from $2,001/mt a week earlier.
Market participants are seeking direction for a way forward in a market that has been on a steady decline but will remain sidelined until a clear strategy for the metal emerges.