The spreads for most US domestic copper scrap grades remained unchanged while spot pricing decreased on Tuesday as the Comex continued to slip.
The spread for US Bare Bright copper scrap (Barley) held at 11.3¢/lb under the Comex March contract, on Tuesday, while the Davis Index for bare bright decreased to $2.065/lb delivered US consumer from $2.192/lb delivered on March 17.
The spread for #1 copper (Berry/Candy) was flat at $0.203/lb, under the March Comex contract and remained unchanged at $0.371/lb under the March Comex contract for #2 chops.
However, the weekly index for both grades decreased significantly, to $1.97/lb delivered US consumer from $2.10/lb for #1, and to $1.80/lb delivered US consumer for #2 chops from $1.941/lb delivered on March 17.
The next active Comex market moved down to $2.18/lb on Tuesday from a close of $2.31/lb on March 17.