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

US copper scrap export spreads were mixed on strong demand from China but low shipping container availability.


Transactional prices moved higher on Wednesday, with the next-active Comex contract closing at $2.587/lb, up from $2.570/lb a week ago.


The Davis Index spreads for #1 copper wire and tube (Berry/Candy) remained unchanged at 22¢/lb fas US port, while spreads for #2 copper (Birch/Cliff) narrowed to 37¢/lb fas US port, under Comex. Bare Bright (Barley) spreads widened to 13¢/lb fas US ports, under Comex, weaker by 1¢/lb.


The weekly Davis Index for #1 and #2 copper scrap grades increased slightly on Wednesday with #1 copper settling at $2.36/lb fas US port from $2.34/lb on Feb 26. The index for #2 copper rose from $2.173/lb on Feb 26 to $2.217/lb fas US port on Wednesday. The spreads for Bare Bright (Barley) widened making it lose its1¢/lb gains in the Comex market and resulting in the Davis Index for the grade remaining unchanged at $2.43/lb fas US port.


The demand for base metals is growing as 75pc of China’s businesses return to a regular schedule. Market participants expect demand to strengthen as shipping containers become more readily available soon and copper shipments increase.

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