Japan Copper Scrap Market Widely Declines

Copper scrap market price is sharply decreasing in Japan when domestic official copper ingot price dropped down. Especially brass scrap price hit the yearly lowest when domestic official zinc price hit the yearly lowest and brass bar demand is weakening. The market price of brass turning scrap is currently 500-505 yen per kilogram around Tokyo, the lowest since February 2007, though it temporarily exceeded 700 yen in May 2007.Japanese official copper ingot price dropped down by 15% or 140,000 yen per tonne within November, which was 940,000 yen per tonne at the beginning of this month and downed to 800,000 yen. The market price of no.1 copper wire scrap decreased by 14% around Tokyo within November from 845 yen per kilogram at the beginning of this month to current 730 yen.Japanese official zinc ingot price was revised down to 345,000 yen per tonne on Monday, which hit the yearly lowest and downed by 36% from 543,000 yen at the beginning of this year. Brass scrap prices widely declined due to the down revision of official copper and zinc prices. Brass turning scrap contains copper at 60% and zinc at 40% which is used mainly as a brass bar material, while other brass scrap for brass sheet and strip contains copper at 65% and zinc at 35%. Zinc price down more impacts brass turning scrap.