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

US export copper scrap spreads strengthened on Wednesday with transactional prices remaining mostly unchanged.


Transactional prices were mixed with the next active Comex contract closing on Wednesday at $2.29/lb, down by 1¢/lb from $2.30/lb on April 15.


The weekly Davis Index for #1 copper wire and tube decreased to $2.10/lb fas US port from $2.11/lb fas, while the index for #2 copper dropped slightly to $1.972/lb fas US port on Wednesday, from $1.98/lb fas on April 15. The index for Bare Bright (Barley) remained unchanged at $2.20/lb fas US port.


The Davis Index spread for #1 copper wire and tube (Berry/Candy) narrowed to 19¢/lb fas US ports under the next active Comex contract, tighter by 0.03¢/lb, while the spread for #2 copper (Birch/Cliff) widened to 32¢/lb fas US ports, under the next active month on Comex, wider by 0.02¢/lb. The spread for Bare Bright (Barley) narrowed by 0.05¢/lb to 8.8¢/lb fas under the next active Comex contract.


Market participants are trying to balance supply and demand amid a volatile market. Scrap supply and cash remain primary concerns for market participants. Finding scrap material to sell is a challenge only to be followed up by the fear of customers not qualifying for credit insurance and cash concerns.

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