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

US copper scrap export spreads tightened on Wednesday as the next active Comex market continued to lose strength on concerns over the economic impact of COVID-19.


Transactional prices moved lower from last week, with the next-active Comex contract closing at $2.1625/lb on Wednesday, down by 33.75¢/lb from $2.50/lb on March 11.


The Davis Index spread for #1 copper wire and tube (Berry/Candy) fas US ports narrowed to 20.8¢/lb, better by 1.7¢/lb, while the spread for #2 copper (Birch/Cliff) fas US ports tightened by 1.9¢/lb to 35.4¢/lb under the next active month on Comex. The spread for Bare Bright (Barley) fas US ports tightened to 12.6¢/lb from 13¢/lb under the next active Comex.


The weekly Davis Index for #1 and #2 copper scrap grades fas US port decreased on Wednesday. The index for #1 copper decreased to 1.93/lb fas US port from $2.29/lb last week, while the index for #2 copper lowered from $1.792/lb on March 11 to $2.109/lb fas US port on Wednesday. The Davis Index for Bare Bright (Barley) also fell to $2.02/lb fas US port from $2.361/lb on March 11.

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