Lower Copper Scrap Price in Tokyo

Copper scrap market price downed by about 10 yen per kilogram around Tokyo when domestic official copper ingot price was revised down to 920,000 yen per tonne on 16 April which was previously revised 2 weeks ago. Copper scrap price settled down from the temporary soaring during January-March.No.1 copper wire scrap price is around 830-845 yen per kg around Tokyo though the price was 20-30 yen higher in March due to tighter supply. A dealer source said the price is weaker recently. The dealers reduce the commitment for rolled copper makers for April-June under tight supply. The supply is still tight for many scrap products except for brass and bronze. Dealers expect the price could increase toward end of April if the scrap generation would keep low level.