Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The spreads for US domestic copper scrap grades narrowed slightly over the week as Comex bounced back from its low of $2.23/lb last week, to close at $2.38/lb on Tuesday.


The spread for US Bare Bright copper scrap (Barley) delivered US consumer tightened to 9.8¢/lb from 10.8¢/lb under the April Comex contract, on Tuesday, while the weekly Davis Index for bare bright increased by 12.9¢/lb to $2.282/lb delivered US consumer.


The spread for #1 copper (Berry/Candy) narrowed to 18.5¢/lb, from 19.3¢/lb, under the April Comex contract, with the index for the grade increasing by 11.1¢/lb to $2.186/lb. The spread for #2 copper chops narrowed to 33.4¢/lb, from 34.3¢/lb under April Comex, while the index for the grade increased by 10.9¢/lb to $2.047/lb.


Copper scrap supply and demand have found a relative balance for now. Scrap supply is tight, but without much demand market participants do not expect much support for higher pricing or the spreads to tighten further.

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