US copper scrap prices hold ahead of Thanksgiving holiday

Copper scrap discounts in the United States continued to be steady in the week to Wednesday November 22, with sources noting little changes week on week ahead of the Thanksgiving holiday

It’s “quiet on the copper front this week,” a source said on Tuesday November 21.

Fastmarkets’ assessment of the discount for copper scrap No1 copper, delivered to brass mill US remained at 7-10 cents per lb on Wednesday, flat since June 7. 

Fastmarkets’ assessment of the discount for copper scrap No1, delivered to refiners was also stable at 10-13 cents per lb on November 22, flat since October 4.

A second source also said that the market is “very quiet” with “no changes to spreads.”

Discounts to brass ingot makers were a bit more mixed on the week.

Fastmarkets’ assessment for the copper scrap No1 bare bright discount and No1 copper discount, delivered to brass ingot makers held at 4-6 cents per lb and 18-21 cents per lbs on Wednesday, respectively. 

The unchanged prices come amid new fluctuations on the Comex. The most-active December delivery Comex copper contract fell day on day to $3.763 per lb on November 22, but was up week on week from $3.7185 per lb on November 15. The price had risen to a weekly high of $3.814 per lb on Monday November 20 before declining again. 

Brass prices were also unchanged, though a brass source said prices had tightened slightly in the beginning of the week amid the upward pressure from Comex prices and export demand.

Fastmarkets’ assessment for No1 comp solids, delivered to brass ingot makers remained at $2.86-2.90 per lb on November 22, flat from the previous week.

Prices for copper scrap radiators, delivered to brass ingot makers also held at $2.34-2.37 per lb on Wednesday, stable from the previous week.

One buyer noted that “for the most part, [prices are] stable from last week,” and that while prices had seen some increases with the rising Comex rates on Monday and Tuesday there were largely back in line with the previous week’s assessments by November 22.

Understand the dynamics of the copper market

To understand the complex market conditions influencing price volatility, download our monthly base metals price forecast, including the latest copper price forecasts today. Get a free sample.

What to read next
Following an initial consultation with the market, Fastmarkets is proposing to:  The new specifications would be as follows, with amendments in italics: MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:2022 – Cu-CATH-1 or Grade 1 Electrolytic Copper Cathode ATSM B1115-10 Quantity: Min […]
Fastmarkets’ 2025 outlook for key raw materials and ingredients used in the production and distribution of fast-moving consumer goods.
Vale Base Metals plans to boost annual copper production to 700,000 tonnes by 2035, aiming to become a top-five global producer of nickel and copper. CEO Shaun Usmar highlights a focus on productivity, cost optimization and sustainable growth. With strong assets in Canada and Brazil, Vale is well-positioned to meet rising global demand.
Fastmarkets has corrected its fob Australia alumina index, which was published incorrectly on Monday June 2 and Tuesday June 3 due to a back-end calculation error. Fastmarkets has also corrected all the related inferred indices. On June 2 the following prices were published incorrectly: Fastmarkets’ MB-ALU-0002 Alumina index, fob Australia, was published in error as $375.59 per […]
Mexico’s strategic role in automotive nearshoring is fueling demand for recycled aluminium, with investment in scrap-intensive sectors boosting its non-ferrous secondary markets. Despite tariff uncertainties, USMCA compliance and EV production growth continue to attract global manufacturers.
Goldcorp founder Rob McEwen is back in the spotlight with a bold bet on copper in Argentina. The $2.5 billion Los Azules project, set to become Argentina’s first major copper mine in over 30 years, is reshaping the country’s mining industry while raising sustainability standards. Positioned as a key player in addressing a global copper shortage, the project highlights innovation, persistence and a commitment to meeting the growing demand from global electrification.