Brass value slides below $2/lb. in latest military scrap auction.(Scrap)(Brief article)

NEW YORK -- Brass ammunition scrap fell below the $2-per-pound level in an electronic auction of U.S. Defense Department metal that closed Tuesday.

A unit value of $1.93 a pound-including a 10-percent premium paid by buyers to the auction operator--was indicated by the winning bid of $35,007 for the material in Virginia.

No other ammunition scrap was included in that day's auction. Less-valuable offerings of copper and brass included insulated wire and cable in Texas that went for 95 cents a pound and a mixture of insulated cable and discarded motors in New Mexico that went for 66 cents a pound.

The most valuable material was an offering of exotic …