The Davis Index for brass scrap increased along with the Comex market on Friday.
The weekly Davis Index for 360-rod borings rose slightly to $1.605/lb delivered US consumer on Friday from $1.565/lb delivered, while the index for brass radiators increased by 2.2¢/lb to $1.486/lb delivered. The index for red brass (85:15) solids surged by 4.5¢/lb to $1.961/lb delivered US consumer.
The weekly Davis Index spread for the C-200 series alloy copper tightened by 0.008¢/lb to 12.4¢/lb under the Comex cash contract and the spread for the C-200 series zinc narrowed to 7.1¢/lb under, tighter by 0.008¢/lb under the LME Zinc spot contract.
The Comex cash copper contract also increased to $2.3535/lb on Friday from $2.3205/lb on April 13.The Comex market was closed for the Easter holiday last week.
The three-month LME zinc official contract increased by $48/mt on Friday to $1,946/mt from $1,898/mt on April 9.
Tight supply because of production shutdowns, amid COVID-19 related restrictions, and inconsistent demand from consumers, as buyers step in and out of the market at different times, is making it hard for market participants to gauge their next price movements. A better handle of supply and demand once more facilities reopen for business could give market participants clarity on the future of pricing for brass products.