US brass prices varied on Friday after buyers held off their purchases for some grades. Spreads, however, tightened in a weaker Comex market during the week.
The weekly Davis Index for 360-rod borings increased by 5.2¢/lb to $2.475/lb delivered US consumer but declined by 5.9¢/lb for brass radiators to $1.99/lb delivered on Friday.
The weekly Davis Index for the C-200 series alloy copper spread narrowed by 4.4¢/lb to 9.9¢/lb under the Comex spot contract. Simultaneously, the C-200 series zinc spread tightened by 1¢/lb to 4.5¢/lb, under the LME zinc cash contract.
The Comex spot copper contract decreased by 7¢/lb to $3.57/lb from its close on Jan 22, while the spot LME zinc official contract fell by $128/mt from Jan 22 to close at $2,565/mt on Friday.
The brass market has become quiet for now as most buyers have completed their purchases until March. Some consumers expect prices to fall further as more inventory adjustments are made. Sellers are looking towards China to resume purchases to liquidate their stock, but do not expect much movement in that market, at least until the end of February.