The Davis Index for brass scrap ticked up for some grades on positive sentiments from European importers.
The weekly Davis Index for 360-rod borings increased by 3.2¢/lb to $2.092/lb delivered US consumer and was higher by 0.6¢/lb for brass radiators at $1.683/lb delivered.
The copper component in brass spreads was slightly weaker on Friday after the Comex market hit its peak earlier this week before dropping.
The weekly index for the C-200 series alloy copper spread was wider by 0.2¢/lb at 10.7¢/lb under the Comex spot contract, while the C-200 series zinc spread weakened by by 0.1¢/lb to 5.9¢/lb under the LME zinc cash contract.
The Comex spot copper contract was 3¢/lb higher at $3.04/lb on Friday from it close on August 28, while the spot LME zinc official contract increased by $65.5/mt from August 28 to close today at $2,463.50/mt.
Demand for brass scrap is increasing as activity picks up in the European markets. However, grading and purchasing practices are not always the same across the globe. European smelters do not always differentiate between specific grades of brass creating an arbitrage scenario for US exporters who supply the material to the EU. and leaving the US short of scrap.