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Material flows have improved, and buyers can acquire copper scrap units without difficulty, sources said.
“Demand has been consistent for the last four weeks,” a brass ingot maker said. “We have been able to procure bare bright with ease; so the flow of scrap is good.”
A second ingot maker said that brass scrap prices have increased “because we are busier now.”
Fastmarkets assessed the copper scrap No1 copper, discount, buying price, delivered to brass mill US at 10-12 cents per lb on September 16, down from 12-14 cents per lb the previous week.
Similarly, the discount for No2 copper, delivered to brass ingot makers dropped to 42-44 cents per lb from 43-45 cents per lb.
The discounts for No1 bare bright, delivered to brass ingot makers and for light copper, delivered to brass ingot makers both widened lower, respectively moving to 12-14 cents per lb from 14-15 cents per lb and to 47-49 cents per lb from 49-50 cents per lb.
Fastmarkets assessed the copper scrap No1 comp solids, buying price, delivered to brass ingot makers (commonly called red brass) at $2.05-2.07 per lb on Wednesday, up from $2.00-2.03 per lb one week earlier.
The buying price for copper scrap comp borings, turnings, delivered to brass ingot makers rose to $2.03-2.06 per lb on September 16 from $1.96-2.00 per lb in the same comparison.
Other brass scrap prices remained unchanged week on week.
The most-active December-delivery Comex copper contract settled at $3.061 per lb on Wednesday, up by 0.3% from $3.0515 per lb on September 9.