The Davis Index for brass scrap moved higher in tandem with a robust Comex market, which hit its peak for the year at $3.20/lb on Oct 21.
The weekly Davis Index for 360-rod borings increased by 4.8¢/lb to $2.163/lb delivered US consumers and climbed for brass radiators by 4.3¢/lb to $1.738/lb delivered on Friday. Red brass (85:15) increased by 7.1¢/lb to $2.72/lb delivered, while mixed red brass rose by 4.4¢/lb to 2.118/lb delivered.
The index for the C-200 series alloy copper spread was wider by 0.8¢/lb at 13.4¢/lb under the Comex spot contract, while the C-200 series zinc spread weakened by 0.3¢/lb to 6.3¢/lb under the LME zinc cash contract.
The Comex spot copper contract increased to $3.125/lb on Friday from $3.065/lb on Oct 16, while the spot LME zinc official contract rose by $148.50/mt from Oct 16 to close at $2,565.50/mt on Friday.
Ammunition sales are spiking again and supporting the brass market as the US approaches the presidential election. Fears of an administration change at the White House have pushed ammunition sales higher by 139pc in 2020 compared to the same period in 2019 through September.