The Davis Index for brass scrap moved higher due to stronger demand and a robust Comex market, which has maintained its spot price above the $3/lb mark this week.
The weekly Davis Index for 360-rod borings increased by 1.7¢/lb to $2.115/lb delivered US consumers and climbed for brass radiators by 3.2¢/lb to $1.695/lb delivered US consumer. Red brass (85:15) increased by 4.4¢/lb to $2.652/lb delivered, while mixed red brass rose by 1.9¢/lb to $2.074/lb delivered.
The weekly Davis Index for the C-200 series alloy copper spread was wider at 12.4¢/lb under the Comex spot contract, while the C-200 series zinc spread was flat at 6¢/lb under the LME zinc cash contract.
The Comex spot copper contract was down on Friday at $3.065/lb from $3.08/lb on Oct 9, while the spot LME zinc official contract increased by $1.50/mt from Oct 9 to close at $2,417/mt on Friday.
Brass mills continue to have better demand for finished goods than their copper counterparts, but the scrap market is well supplied with the material making it easily available for consumers to purchase.