The spreads for most US domestic copper scrap grades narrowed slightly over the week as supply concerns dominated the pricing conversation. Spot pricing also increased on Tuesday as Comex rose from, what many viewed as the bottom of the market.
The spread for US Bare Bright copper scrap (Barley) delivered US consumer held at 11.3¢/lb under the April Comex contract, on Tuesday, while the weekly Davis Index for bare bright increased to $2.175/lb delivered US consumer from $2.116/lb delivered on March 31.
The spread for #1 copper (Berry/Candy) was flat at $0.203/lb, under the April Comex contract, with the index for the grade increasing by 6.4¢/lb to $2.063/lb.
The spread for #2 copper chops tightened to $0.368/lb under April Comex, from $0.371lb under, while the Davis Index for #2 copper increased by 6¢/lb to $1.911/lb.
The next active Comex market increased on Tuesday to $2.29/lb from $2.23/lb, on March 31.