The Davis Index for brass scrap moved up or down, depending on grade, amid wild swings in the Comex market on Friday.
The copper exchange market dropped by 16¢/lb this week. It started at $2.97/lb, peaked at $3.03/lb, bottomed out at $2.87/lb, to settle back on Friday at the same price reported at the start of the week.
The weekly Davis Index for 360-rod borings decreased by 0.9¢/lb to $2.081/lb delivered US consumers and was lower for brass radiators at $1.653/lb delivered, down by 1.2¢/lb. Red brass (85:15), on the other hand, moved up by 0.3¢/lb to $2.58/lb delivered while mixed red brass increased by 1.2¢/lb to 2.038/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 as was the C-200 series zinc spread, which remained unchanged at 6¢/lb under the LME zinc cash contract.
The Comex spot copper contract held on Friday from it close on Sep 25, at $2.97/lb, while the spot LME zinc official contract decreased by $63/mt from Sep 25 to close at $2,302/mt on Friday.
Brass mills still show signs of better demand from the US market when compared to copper scrap. Market participants have high expectations for ammunition sales, no matter who wins the US Presidential election.