The Davis Index for brass scrap trended sideways to soft during the week as spreads weakened further.
The copper component of brass was weaker over the week as brass mills could secure material for the balance of August and early September while they pushed the spreads wider.
The weekly Davis Index for 360-rod borings increased by 0.5¢/lb to $1.964lb delivered US consumers and was lower by a penny for brass radiators at $1.66/lb delivered. The index for red brass (85:15) solids declined by 5.5¢/lb to $2.49/lb delivered on Friday.
The weekly Davis Index for the C-200 series alloy copper spread was broader by 1¢/lb at 10¢/lb under the Comex spot contract, while the C-200 series zinc spread was flat at 5¢/lb under the LME zinc cash contract.
The Comex spot copper contract was 6¢/lb higher at $2.85/lb on Friday from it close on August 7, while the spot LME zinc official contract decreased by $33/mt from August 7 to close at $2,360/mt on Friday.
Brass mill are witnessing pockets of demand in the US domestic market, but this may not be enough to offset the volumes of scrap material available with China effectively out of the market. China released a new supplier certification program this week, allowing 20 days for interested parties to sign up.