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

US weekly export copper scrap spreads widened across most grades amid a strong Comex copper market and slow trading activity.


The Davis Index weekly spread for export #2 copper (birch/cliff) widened by 3.7¢/lb to 55.9¢/lb under the next active Comex copper contract while bare bright’s (barley) spread widened by 7¢/lb to 17.5¢/lb under Comex.


Comex copper breached its highest point since 2011 earlier in the week with the next active Comex contract settling at $4.19/lb on Wednesday, 36¢/lb above its close of $3.83/lb on Feb 17. 


Transaction prices for all grades surged due to a strong Comex market, despite widening spreads. #2 copper rose by 40¢/lb to $3.76/lb fas and Bare bright (barley) increased by 41¢/lb to $4.14/lb fas US port.


The Davis Index spread for #1 copper wire and tube (berry/candy) widened by 2.8¢/lb to 26.8¢/lb under the next active Comex, with Wednesday’s transaction price soaring by 41¢/lb to $4.01/lb fas US port.


Spreads have continued to widen in the US export copper scrap market amid reduced activity. Some volumes have started moving in the market but, according to market participants, these are not enough to resume active trade. Strong LME and Comex copper prices have also dampened buyer sentiment and importers are waiting for prices to trend down before they resume buying.

Leave a Reply

Your email address will not be published.