Brass Bar Market Price Keeps Flat in Tokyo

Brass bar market price keeps flat at around 740 yen per kilogram for free-cutting bar with 25 millimeters diameter, at around 750 yen per kg for 10 mm diameter and at around 800 yen per kg for 5 mm diameter at dealers’ selling price without freight around Tokyo.Domestic major brass bar maker revised up its purchasing price for brass turning scrap by 18 yen to 543 yen per kg on 28 January, an indicator for brass bar market price. Brass turning scrap price was revised down by total 47 yen per kg since 16 January but rebounded after 2 weeks.Market dealers set their brass bar reselling prices unchanged despite of the rebound of brass turning scrap price. Dealer source said they should sustain the current reselling price level rather than confused by the fluctuation of the indicator since copper price has fluctuated roughly since 2007.Dealers cannot raise the reselling price when brass bar shipment is remarkably decreasing. Demand for brass bar is largely decreasing from housing related applications such as valves, water taps and gas appliances due to the drop down of domestic new housing starts.