The Davis Index for brass scrap rose on Friday in tandem with a stronger Comex market, which reached a new peak for the year.
The weekly Davis Index for 360-rod borings increased by 1.5¢/lb to $2.19/lb, delivered US consumer, and inched up for brass radiators by 0.7¢/lb to $1.732/lb delivered US consumer. Red brass (85:15) rose by 4.5¢/lb to $2.75/lb delivered, though the index for mixed red brass dropped by 4.2¢/lb to $2.187/lb delivered US consumer.
The weekly Davis Index for the C-200 series alloy copper spread was wider at 14¢/lb under the Comex spot contract, worse by 0.2¢/lb. The C-200 series zinc spread was weakened by 0.1¢/lb to 7.1¢/lb under the LME zinc cash contract.
The Comex spot copper contract was up on Friday at $3.29/lb from $3.176/lb on Nov 13, while the spot LME zinc official contract increased by $174.50/mt from Nov 13 to close at $2,787/mt on Friday.
Demand for brass is better than its copper counterpart on the finished product side. China is trying to work itself back into the scrap market and could significantly impact prices if it becomes active again. Many suppliers in the US and across the world are still concerned with shipping into the Asian nation under its new scrap classification.