Discounts for most copper scrap grades narrowed June 26 as market participants said that lower Comex prices coupled with ongoing supply concerns had caused spreads to tighten. Brass mill No. 1 copper scrap is trading between flat Comex and 2 cents under Comex compared with a discount of 1 to 3 cents previously, putting prices at $3.02 to $3.04 per pound based on a July-delivery Comex copper contract settlement price of $3,041 per pound June 26.
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