The Davis Index for brass scrap was higher by 1-2¢/lb for most grades on Thursday in a week where the Comex continued its push to higher ground.
The Comex spot market has traded its volatility seen since mid-March to a steady pattern of increase since June 16.
Spreads have held their ground, and in case of copper, slightly tightened, as scrap supply remains tight with pockets of demand for the material.
The weekly Davis Index for 360-rod borings increased by 2¢/lb to $1.85/lb delivered US consumers and moved higher by 1¢/lb for brass radiators to $1.62/lb delivered. The index for red brass (85:15) solids rose by 5¢/lb to $2.35/lb delivered US consumers.
The weekly Davis Index for the C-200 series alloy copper spread was tighter by 0.2¢/lb at 6.4¢/lb under the Comex spot contract, while the C-200 series zinc spread was flat at 3.1¢/lb under the LME zinc spot contract.
The Comex cash copper contract was higher by 6¢/lb at $2.73/lb on Thursday up from $2.67/lb on June 26, while the spot LME zinc official contract increased by $6.5/mt on Thursday to $2,035.50/mt from $2,029/mt on June 26.
Brass demand has picked up because of more robust ammunition sales in the US due to the upcoming election as well as the civil unrest across the country.