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

The weekly spreads for US domestic copper scrap grades varied over the week, as the Comex market moved higher in a market where demand was fragmented by grade. The Comex spot market closed at $3.63/lb on Tuesday, up from $3.55/lb on Dec 29.


The spread for US bare bright copper scrap (barley) tightened by 0.2¢/lb to 14.8¢/lb under the January Comex contract on Tuesday, while the weekly Davis Index for the grade increased by 8¢/lb to $3.48/lb delivered US consumer.


The spread for #1 copper (berry/candy) was wider at 26.1¢/lb under the January Comex contract, worse by 1.1¢/lb with the weekly index for the grade stronger by 7¢/lb at $3.37/lb delivered.


The spread for #2 Light copper was wider by 0.9¢/lb at 43.4¢/lb, under the January Comex contract. The index for #2 Light landed at 3.19/lb delivered US consumer, better by 7¢/lb.


The market may pick up on positive business sentiment after the first of the year. However, new lockdowns in Canada and England to control COVID-19’s spread could impact demand moving forward, particularly if other countries follow suit.

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