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

US weekly export copper scrap spreads tightened for most grades on Wednesday amid increasing interest from Asian markets.


The Davis Index weekly spread for export #2 copper (birch/cliff) narrowed by 1.3¢/lb to 55.5¢/lb under the next active Comex copper contract while bare bright’s (barley) spread tightened by 0.6¢/lb to 17.1¢/lb under Comex.


The Comex copper market began climbing again this week as the dollar softened with the next active Comex contract rising by 6¢/lb from last week to close at $4.12/lb on Wednesday. 


Transaction prices for all grades increased this week with #2 copper rising by 7¢/lb to $3.56/lb fas and bare bright (barley) climbing by 6¢/lb to $3.94/lb fas US port. 


The Davis Index spread for #1 copper wire and tube (berry/candy) tightened by 1.8¢/lb to 23.7¢/lb under the next active Comex, with Wednesday’s transaction price increasing by 8¢/lb to $3.88/lb fas US port for the grade.


Active buyer interest from Asia led to tighter export spreads this week. Improving demand, paired with a stronger Comex copper market, is expected to buoy supplier sentiment this month. Still, demand from China remains subdued and suppliers with volumes of #2 copper are now looking at alternate destinations for the grade after China issued its new scrap specifications.

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