Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US weekly brass scrap spreads were rangebound on Friday for the second successive week amid tight supply and softening demand. 


Comex spot copper contract closed at $4.30/lb, up by a penny from Jun 25 as the dollar continued to strengthen. The spot LME zinc official cash contract increased by $41/mt to $2,917/mt over the same period. 


The weekly Davis Index for C-200 series alloy’s copper spread widened by 0.7¢/lb to 11.2¢/lb under the Comex copper spot contract, while the C-200 series zinc spread, remained unchanged at 5.2¢/lb under the LME zinc cash contract. 


Brass prices were mixed though most grades ticked down as supply remained tight and demand softened ahead of the Fourth of July weekend. The weekly Davis Index for 360-rod borings declined by 0.3¢/lb to $3.053/lb delivered US consumer. Brass radiators inched down by the same amount to $2.50/lb delivered, while red brass 85:15 dropped by 1¢/lb to $3.59/lb delivered. 


Shortage of brass supply is likely to remain through July amid sluggish scrap flows which could drive prices higher. With exports to Asia picking up, export scrap grades that had found their way into the domestic market on Jun 25 were absent this week, impacting prices today.

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