US weekly brass scrap spreads varied on Friday following a rise in Comex copper and LME Zinc prices during the week and strong demand for some brass scrap grades.
Comex spot copper contract closed at $4.35/lb up by 5¢/lb from Jul 2 while the spot LME zinc official cash contract increased by $38/mt to $2,955/mt over the same period.
The weekly Davis Index for C-200 series alloy’s copper spread narrowed by 0.2¢/lb to 11¢/lb under the Comex copper spot contract, while the C-200 series zinc spread, widened by 0.3¢/lb to 5.5¢/lb under the LME zinc cash contract.
Brass scrap prices were mixed for the second successive week as the market looked for direction amid volatile Comex and LME prices. The weekly Davis Index for 360-rod borings declined by 1.3¢/lb to $3.04/lb delivered US consumer. Still, some deals for the grade were heard at around 2¢/lb higher.
Brass radiators, on the other hand, increased by 6.5¢/lb to $2.565/lb delivered with deals heard at as much as $2.60/lb for the grade. Red brass 85:15 dropped by 13.2¢/lb to $3.458/lb delivered.
Demand for brass scrap remains strong despite the price variance across grades this week. Participants expect supply to remain adequate as well despite the summer vacation and various smelters shutting down for maintenance over the next two months.