Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly spreads for US domestic copper scrap grades tightened on Tuesday as Comex regained some of it lost ground amid tight scrap supply.


The Comex spot market closed at $2.42/lb on the spot market Tuesday, from $2.36/lb on May 12.


The spread for US bare bright copper scrap (barley) delivered US consumer narrowed to 7.6¢/lb, better by 1.4¢/lb under the May Comex contract, on Tuesday, while the weekly Davis Index for bare bright increased by 7.4¢/lb to $2.349/lb delivered US consumer.


The spread for #1 copper (berry/candy) was better at 14.9¢/lb a 2.8¢/lb improvement under the May Comex contract, with the index for the grade increasing by 8.2¢/lb to $2.275/lb. The spread for #2 copper chops narrowed to 27.9¢/lb, better by 3.5¢/lb under May Comex, while the index for the material increased by 9.8¢/lb to $2.143/lb.


Supply has become increasingly scarce as demand picks up. Consumers have been reaching out to suppliers without much luck as they have very little in inventory. Buyers with tighter specs have found it even more challenging to locate the material they need.

Leave a Reply

Your email address will not be published.