The Davis Index for brass scrap moved lower in a steady market with excess scrap supply available.
The weekly Davis Index for 360-rod borings decreased by 2.8¢/lb to $2.175/lb, delivered US consumers, and dipped by 1.5/lb for brass radiators to $1.725/lb delivered US consumer. Red brass (85:15) decreased by 1.5¢/lb to $2.705/lb delivered, while mixed red brass moved lower by 2.5¢/lb to 2.145/lb delivered.
The weekly Davis Index for the C-200 series alloy copper spread was slightly wider at 13.8¢/lb under the Comex spot contract, worse by 0.8¢/lb. The C-200 series zinc spread was flat at 7¢/lb under the LME zinc cash contract.
The Comex spot copper contract was up on Friday at $3.17/lb from $3.145/lb on Oct 30, while the spot LME zinc official contract decreased by $2/mt on Nov 6 to close at $2,612.50/mt on Friday.
The brass market has remained steady over the past two months, with scrap prices moving in line with the Comex market. The path ahead looks uncertain, with the potential for divergent outcomes depending on factors relating to scrap flows and the impact that the COVID-19 pandemic may still have on the market.