Copper Scrap Price Keeps Flat around Nagoya

The market price of no.1 copper wire scrap keeps flat at around 830-850 yen per kilogram around Nagoya. Copper settlement at London Metal Exchange was US$ 8,376 per tonne on 27 May, slightly increasing from the previous day. The weak tone in the scrap market was removed by the rebound of LME copper price. Scrap dealers are in a waiting-and-seeing mood before Japanese official copper ingot price for June shipment will be announced.Copper scrap generation keeps low around Nagoya. A dealer source said their scrap purchasing volume maintains almost low though some scrap collectors came at the beginning of this week when copper metal price seemed to decline.Copper fabricators are decreasing their scrap procurement since the domestic demand for copper rolled products keeps slow. Some scrap dealers are decreasing their delivery volume scheduled for July-September. However, a dealer source said there is no spot order for additional delivery.The supply and demand balance keeps unchanged in the market. Copper scrap price seems to maintain flat within this week.