The spreads for most US domestic copper scrap grades were unchanged Tuesday, with spot prices increasing as the Comex market is tries getting back on track. Market participants expect violate markets moving forward because the supply and demand balance has been hard to determine amid the COVID-19 crisis.
The spread for US Bare Bright copper scrap (Barley) delivered US consumer held at 11.3¢/lb under the Comex March contract on Tuesday, while the weekly Davis Index for bare bright increased to $2.116/lb delivered US consumer from $2.065/lb delivered on March 24.
The spread for #1 copper (Berry/Candy) was flat at $0.203/lb under the March COMEX contract, with the index at $1.989/lb, increasing by almost 5¢/lb from $1.941/lb.
The spread for #2 copper chops remained unchanged at $0.371/lb under the March COMEX, while pricing for the grade increased by 5¢/lb from $1.80/lb to $1.85/lb.
The next active COMEX market increased to $2.23/lb on Tuesday, up from $2.18/lb a week ago.