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

The weekly spreads for US domestic copper scrap grades weakened or narrowed over the week, depending on grade, as the Comex market stayed close to last week’s levels. The Comex spot market closed at $3.518/lb on Tuesday, slightly down from $3.53/lb on Dec 15.  


The spread for US bare bright copper scrap (barley) delivered US consumer widened by 0.8¢/lb to 14.3¢/lb, under the December Comex contract on Tuesday, while the weekly Davis Index for bare bright decreased to $3.375/lb delivered US consumer.    


The spread for #1 copper (berry/candy) was better by 0.6¢/lb at 25¢/lb, under the December Comex contract, with the weekly index for the grade declining to $3.268/lb delivered US consumer. The spread for #2 Light copper, on the other hand, was flat at 42.5¢/lb, under the December Comex contract. The index for #2 Light landed at $3.09/lb delivered, better by 2¢/lb.


Market activity was quiet moving into the Christmas holiday, with most buying completed for the year. However, market participants feel better about the market moving forward now than they did in the previous months as the uncertainty arising from the pandemic abates after the distribution of COVID-19 vaccines began earlier this month.

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