Brass Bar Price Weak in Nagoya

Brass bar marketing price is weakening at around 750 yen per kilogram for free-cutting bar with 25 millimeters diameter, at around 760 yen per kg for 10mm diameter and at around 810 yen per kg for 5mm diameter in Nagoya region.Nippon Shindo, Japanese major brass bar maker in Osaka, revised down its purchasing price for brass turning scrap by 22 yen to 518 yen per kg on Tuesday when domestic official copper ingot price was decreased by 30,000 yen per tonne and official zinc price downed by 10,000 yen per tonne. Nippon Shindo’s purchasing price declined by 26-27% from the recent peak at 704 yen two and a half months ago.Brass bar shipment maintains slow around Nagoya. Wholesalers’ shipment is remarkably decreasing for water valves, the main application of brass bar, since new housing starts are much delayed after the revision of Japanese building standard law. The shipment is especially low around Miyama City of Gifu Prefecture where valve related industries integrate.Brass bar makers are under slow operations and their delivery lead time is shortening. The supply and demand balance is loosing. Copper price may decline more. Consequently brass bar price is likely to continue decreasing.