Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US weekly export copper scrap spreads widened slightly for most grades amid sluggish trading on Wednesday.


The Davis Index weekly spread for export #2 copper (birch/cliff) widened by 0.3¢/lb to 59¢/lb under the next active Comex copper contract while bare bright’s (barley) spread tightened by the same amount to 19¢/lb under Comex.


The Comex copper market, which breached its highest point since 2011 before correcting last week, continued to slip. The next active Comex contract settled at $4.03/lb on Wednesday, 19¢/lb below its close of $4.22/lb on Mar 3. 


Transaction prices for all grades declined this week. #2 copper decreased by 12¢/lb to $3.44/lb fas and bare bright (barley) fell by 10¢/lb to $3.84/lb fas US port. 


The Davis Index spread for #1 copper wire and tube (berry/candy) widened by 1¢/lb to 28.5¢/lb under the next active Comex, with Wednesday’s transaction price dropping by 12¢/lb to $3.74/lb fas US port for the grade.


Demand for export copper is soft as the market is still gauging the impact of China declaring a “red alert” due to heavy air pollution. It is unknown if this will prevent any material from entering the country altogether or if it will be diverted to other Southeast Asian countries.

Leave a Reply

Your email address will not be published.