US export copper scrap spreads were mixed on Wednesday though transactional prices increased across most grades.
Transactional prices rose with the next active Comex contract closing on Wednesday at $2.29/lb, up by 3¢/lb from $2.26/lb on April 8.
The weekly Davis Index for #1 copper wire and tube increased to $2.11/lb fas US port from $2.10/lb fas, while the index for #2 copper rose to $1.98/lb fas US port on Wednesday, from $1.94/lb fas on April 8. The index for Bare Bright (Barley) increased to $2.20/lb fas US port from $2.17/lb fas.
The Davis Index spread for #1 copper wire and tube (Berry/Candy) narrowed to 14¢/lb fas US ports under the next active Comex contract, tighter by 0.5¢/lb, while the spread for #2 copper (Birch/Cliff) widened to 31.8¢/lb fas US ports, under the next active month on Comex, wider by 0.8¢/lb. The spread for Bare Bright (Barley) narrrowed by 0.3¢/lb to 9.3¢/lb fas under the next active Comex.
The Comex market has been working itself off the bottom of the market since the beginning of the month as market participants try to balance demand and supply concerns amid a difficult trading environment.