The Davis Index for US brass scrap climbed for all grades after the Comex market rebounded over the week to its highest peak since 2013.
The weekly Davis Index for 360-rod borings increased by 2.8¢/lb to $2.515/lb delivered US consumers and rose by 9¢/lb for brass radiators to $2.01/lb delivered.
The weekly Davis Index spread for the C-200 series alloy copper was wider by 2.5¢/lb at 15.5¢/lb under the Comex spot contract. Simultaneously, the C-200 series zinc spread widened to 8¢/lb, under the LME zinc cash contract, worse by 2.2¢/lb.
The Comex spot copper contract surged by 14¢/lb to $3.69/lb from its close on Jan 4, while the spot LME zinc official contract decreased by $49.50/mt from Jan 4 to close at $2,824.50/mt on Friday.
Offers for material to mills have picked up, but the asking prices are at odds with the market demand. The jump in the Comex market may help with the transactional pricing while allowing mills and foundries to widen the spreads.