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

The spreads for US domestic copper scrap grades narrowed on Tuesday as the Comex market gave back some of its gains. Spot pricing decreased over concerns of a rough time ahead for economic restarts around the globe.


The spread for US Bare Bright copper scrap (Barley) delivered US consumer tightened to 10.8¢/lb from 11.3¢/lb under the April Comex contract, on Tuesday, while the weekly Davis Index for bare bright decreased by 7.7¢/lb to $2.153/lb delivered US consumer.


The spread for #1 copper (Berry/Candy) narrowed to 19.3¢/lb, from 20.3¢/lb, under the April Comex contract, with the index for the grade decreasing by 6.6¢/lb to $2.075/lb. The spread for #2 copper chops narrowed to 34.3¢/lb, from 36.8¢/lb under April Comex, while the index for the grade decreased by 3.8¢/lb to $1.938/lb.


The Comex spot market decreased on Tuesday to $2.267/lb from $2.33/lb, on April 14.


Market participants are finding it increasingly difficult to source copper scrap and have come to accept price volatility as consumers move in and out of the market.

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