US copper scrap export spreads narrowed as demand from Asia picked up against a low Comex exchange market.
The Davis Index spread for #1 copper wire and tube (Berry/Candy) narrowed to 18.5¢/lb under the next active Comex contract, fas US ports, tighter by 2¢/lb. The spread for #2 copper (Birch/Cliff) narrowed to 31.1¢/lb, under the next active month on Comex, fas US ports, while the spread for Bare Bright (Barley) tightened to 9.4¢/lb fas under the next active Comex, tighter by 3.1¢/lb.
Transactional prices increased with the next-active Comex contract closing at $2.175/lb on Wednesday, down by 2.5¢/lb from $2.20/lb on March 25.
The weekly Davis Index for #1 copper wire and tube decreased marginally to $1.999/lb fas US port, from $2.005/lb fas on March 25. The index for #2 copper rose from $1.845/lb fas on March 25 to $1.859/lb fas US port on Wednesday and decreased to $2.078/lb fas US port from $2.083/lb fas on March 25 for Bare Bright (Barley).