The spreads for US domestic copper scrap grades narrowed on Tuesday as the Comex market gave back some of its gains. Spot pricing decreased over concerns of a rough time ahead for economic restarts around the globe.


The spread for US Bare Bright copper scrap (Barley) delivered US consumer tightened to 10.8¢/lb from 11.3¢/lb under the April Comex contract, on Tuesday, while the weekly Davis Index for bare bright decreased by 7.7¢/lb to $2.153/lb delivered US consumer.


The spread for #1 copper (Berry/Candy) narrowed to 19.3¢/lb, from 20.3¢/lb, under the April Comex contract, with the index for the grade decreasing by 6.6¢/lb to $2.075/lb. The spread for #2 copper chops narrowed to 34.3¢/lb, from 36.8¢/lb under April Comex, while the index for the grade decreased by 3.8¢/lb to $1.938/lb.


The Comex spot market decreased on Tuesday to $2.267/lb from $2.33/lb, on April 14.


Market participants are finding it increasingly difficult to source copper scrap and have come to accept price volatility as consumers move in and out of the market.

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