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

US weekly export copper scrap spreads widened by 1-2¢/lb for most grades on Wednesday in a subdued market.


The Davis Index weekly spread for export #2 copper (birch/cliff) widened by 2.6¢/lb to 62.1¢/lb under the next active Comex copper contract while bare bright’s (barley) spread widened by 1.4¢/lb to 21.2¢/lb under Comex.


Comex copper’s next active contract remained strong today after soaring by 21.7¢/lb last week. It ticked up by a penny from Apr 28 to close at $4.52/lb on Wednesday.


Market inactivity and a next active Comex that has remained almost level compared to last week saw transaction prices for some grades inching down on Wednesday with #2 copper dropping by 1¢/lb to $3.91/lb fas and bare bright (barley) remaining at $4.31/lb fas US port. 


The Davis Index spread for #1 copper wire and tube (berry/candy) widened by 0.9¢/lb to 28¢/lb under the next active Comex, with Wednesday’s transaction price holding unchanged at $4.24/lb fas US port for the grade.


Sluggish activity has defined the copper scrap export market this week. Asian buyers took a pause on Wednesday amid rapidly rising COVID-19 cases in India and a holiday in China and Japan. Suppliers expect demand to remain subdued until more buyers return to the market. 

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