The supply of copper and brass scrap has shrunk in the United States despite a consistently high base price, keeping copper scrap discounts relatively tight compared with the Comex copper price.
On the other hand, the prices of all brass scrap grades assessed by Fastmarkets rose in the week ended Wednesday December 9, continuing to gain strength after hitting more than two-year highs last week.The most-active December-delivery Comex copper contract settled at $3.5135 per lb on Wednesday, rising by 0.7% from $3.489 per lb on December 2.The high copper price has caused cash flow constraints for some companies, because "copper scrap has become an expensive item," according to a...