US copper scrap export spreads were flat as the market reacts to major copper scrap importers like India, Pakistan, and Malaysia imposing nationwide lockdowns for various lengths of time.
Transactional prices increased with the next-active Comex contract closing at $2.21/lb on Wednesday, up by 5¢/lb from $2.15/lb on March 18.
The Davis Index spread for #1 copper wire and tube (Berry/Candy) was flat at 20.8¢/lb fas US ports, while the spread for #2 copper (Birch/Cliff) remained at 35.4¢/lb fas US ports, under the next active month on Comex. The spread for Bare Bright (Barley) held at 12.6¢/lb fas under the next active Comex.
The weekly Davis Index for #1 and #2 copper scrap grades increased on Wednesday. The index for #1 copper increased to $2/lb fas US port from $1.93/lb fas on March 18, while the index for #2 copper rose from $1.792/lb fas on March 18 to $1.84/lb fas US port on Wednesday. The Davis Index for Bare Bright (Barley) also increased to $2.09/lb fas US port from $2.02/lb fas on March 18.