The weekly Davis Index for brass scrap delivered US consumer leveled off on Friday as the Comex market found the bottom, for now.
The Davis Index for 360-rod borings was flat at $1.561/lb on Friday, while the index for brass radiators held at $1.463/lb. The index for red brass (85:15) solids was also unchanged at $2.121/lb.
The Davis Index for C-200 series alloy copper spread was flat at 12¢/lb under Comex and the index for C-200 series zinc spread remained unchanged at 8.1¢/lb under the three-month LME zinc contract.
The Comex copper next active contract also settled flat at $2.19/lb on Friday, the same as March 20.
The three-month LME zinc official contract increased by $26/mt on Friday to $1,874/mt, up from $1,848/mt a week earlier.
The economic crisis arising from the COVID-19 spread has dominated conversation with consumers and suppliers alike this week. Market participants are reducing their buying programs to only what they need to complete orders, not wanting to over-extend themselves in such uncertain times.