Overseas buyers of U.S. copper scrap have held their prices steady for some grades even as the domestic terminal market plunged last week, thus narrowing domestic discounts to Comex for grades such as No. 2 copper more than tepid demand in the market might dictate. Market participants pegged the discount for No. 2 copper scrap buys in the 53- to 58-cent-below-Comex range vs. a 58- to 60-cent discount a week earlier, noting that competing export market quotes are keeping the discounts to Comex tight.
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