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

US export copper scrap spreads tightened on most grades over the past week as the Comex copper market, started to come off its peak for the year.


Transactional pricing has moved higher as the Comex market seems to be moving faster than the spreads. As a result, the spread range has broadened over the past couple of weeks, leaving the market feeling uneasy heading into year-end.


The next active Comex contract closed on Wednesday at $3.51/lb, up from $3.48/lb, on Dec 2.  


The weekly Davis Index for #1 copper wire and tube increased by 4.7¢/lb to $3.256/lb fas US port. Simultaneously, the #2 copper index stepped up by 5.8¢/lb to $3.075/lb fas on Wednesday. The bare bright (barley) index increased by 3¢/lb to $3.32/lb fas US port.


The Davis Index spread for #1 copper wire, and tube (berry/candy) was tighter at 25.2¢/lb fas US ports under the next active Comex contract, better by 1.7¢/lb. The spread for #2 copper (birch/cliff) narrowed by 2.3¢/lb to 44.3¢/lb fas US port, under the next active month on Comex, and bare bright (barley) spreads were flat at 18.2¢/lb fas under the same contract. 


The range of spreads continues to remain wide with varying interest levels from consumers. Some are looking for material in melt in the short term, while others are done buying for the year and have begun purchasing for the first quarter in 2021. 

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