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

US weekly export copper scrap spreads widened slightly on Wednesday as trading remained subdued in the export market.


The Davis Index weekly spread for export #2 copper (birch/cliff) widened by 0.6¢/lb to 64¢/lb under the next active Comex copper contract while bare bright’s (barley) spread widened by 0.5¢/lb to 19.5¢/lb under Comex. 


The next active Comex copper contract fell by 3¢/lb to $4.53/lb today compared to May 19. 


Dropping Comex copper prices pushed down the transaction prices for copper scrap grades on Wednesday with #2 copper decreasing by 6¢/lb to $3.88/lb fas and bare bright (barley) dropping by 7¢/lb to $4.31/lb fas US port. 


The Davis Index spread for #1 copper wire and tube (berry/candy) remained unchanged at 29¢/lb under the next active Comex, with Wednesday’s transaction price moving down by 5¢/lb to $4.23/lb fas US port for the grade.


Demand persists from the European markets with some loads of birch/cliff heard to have made their way to South Korea. Still, Asian purchases have softened with exporters anticipating a further downtrend from the region after China warned its domestic metals market of strict action to curb the sky-high metal prices prevalent in the market. 

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