Weak Brass Bar Price in Tokyo

Brass bar market price is weakening at around 790 yen per kilogram for free cutting bar with 25 millimeters diameter, at around 800 yen per kg for 10 mm diameter and at around 850 yen per kg for 5 mm diameter at dealers’ selling price without freight in Tokyo.Nippon Shindo announced on 22 November the firm decreased its purchasing price for brass turning scrap by 55 yen to 517 yen per kg, which is the indicator for brass bar market price. Nippon Shindo continued to reduce the purchasing price by total 166 yen per kg since 18 October following the decline of Japanese official copper ingot price.Brass bar shipment is slow. Dealer source said the demand maintains low for valves, joints and stationery while improving for LPG gas valves. Brass bar users are in wait-and-see stances since brass turning scrap price dropped down. The demand is also stagnant for water heaters and floor heating appliances when domestic new housing starts are delayed due to slower building certifications after new Japanese building standard law. Brass bar market price might down by several ten yen per kg if brass turning scrap price continues decreasing next week.