The Davis Index for brass scrap improved for some grades on a marginally better Comex market over the short Thanksgiving week.
The weekly Davis Index for 360-rod borings increased by 0.5¢/lb to $2.195/lb delivered US consumers and was better by the same amount for brass radiators at $1.738/lb delivered.
The weekly Davis Index for the C-200 series alloy copper spread was flat at 14¢/lb under the Comex spot contract, while the C-200 series zinc spread was tighter at 6.9¢/lb under the LME zinc cash contract, better by 0.2¢/lb.
The Comex spot copper contract was 2¢/lb higher at $3.31/lb on Wednesday from its close on Nov 20, while the spot LME zinc official contract decreased by $59.50/mt from Nov 20 to close on Wednesday at $2,727.5/mt. The Davis Index will be closed for the US Thanksgiving Holiday on Nov 26 and 27.
Ammunition sales and demand for brass sheet could remain strong in the near term, with the change in the US administration imminent in January 2021.