US copper scrap export spreads were unchanged on Wednesday as the next active Comex market continues to lose strength on concerns over the economic impact of the spread of the COVID-19 virus in the US.
Weekly transactional prices moved lower on Wednesday, with the next-active Comex contract closing at $2.50/lb, down from $2.59/lb a week ago.
The Davis Index spreads for #1 copper wire and tube (Berry/Candy) remained unchanged at 22¢/lb fas US port, while spreads for #2 copper (Birch/Cliff) held at 37¢/lb, under the next active month Comex fas US port. Bare Bright (Barley) spreads tightened slightly to 12.8¢/lb from 13¢/lb under the next active Comex fas US port.
The weekly Davis Index for #1 decreased to $2.29/lb fas US port from $2.36/lb the previous week. The index for #2 copper lowered from $2.211/lb on March 4 to $2.109/lb fas US port on Wednesday. The Davis Index for Bare Bright (Barley) also dropped to $2.361/lb fas US port, down from $2.439/lb a week ago.