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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.
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