US brass scrap prices increased across all grades on Friday after the Comex market hit another high for the year. Scrap supply is tight across most metals, including brass. The lack of scrap has helped keep spreads rangebound despite the Comex market’s strong performance in recent weeks.
The weekly Davis Index for 360-rod borings increased by 6.7¢/lb to $2.52/lb delivered US consumers and climbed by 1.7¢/lb to $1.945/lb delivered US consumer for brass radiators.
The weekly Davis Index for the C-200 series alloy copper spread was wider at 13.5¢/lb under the Comex spot contract, worse by 0.2¢/lb. Simultaneously, the C-200 series zinc spread was flat at 5.9¢/lb under the LME Zinc cash contract.
The Comex spot copper contract was 11¢/lb higher at $3.62/lb on Friday from its close on Dec 11, while the spot LME Zinc official contract increased by $33.50/mt from Dec 11 to close at $2,835/mt on Friday.