The weekly spreads for US domestic copper scrap grades continued to feel the pressure from the domestic market’s tight supply of the material. Copper scrap supply, especially #1 grades, is fragile, forcing consumers to tighten spreads even as the Comex market trends higher.


The Comex spot market closed at $2.60/lb on Tuesday, up from $2.56/lb on June 9. The Comex market had reached June’s peak at $2.66/lb on June 10.  


The spread for US bare bright copper scrap (barley) delivered US consumer, was tighter at 6.8¢/lb, under the June Comex contract on Tuesday, while the weekly Davis Index for bare bright increased by 1.5¢/lb to $2.535/lb delivered US consumer.


The spread for #1 copper (berry/candy) was better at 13.7¢/lb a 0.2¢/lb increase under the June Comex contract, with the weekly index for the grade was flat at $2.461/lb.  


The spread for #2 copper chops narrowed to 23.7¢/lb, better by 2.9¢/lb under the June Comex contract. The index for #2 chops increased by 1.5¢/lb to $2.365/lb.


Market participants are wondering how much more could spreads narrow, as tight supply continues to outpace demand, before scrap prices becomes a burden on potential sales.

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