Flat Copper Scrap Price in Tokyo

Copper scrap price stay the level in Tokyo. Japanese official copper ingot price keeps the level for January shipment when Japanese smelters’ estimated breakeven point increased to 750,000 yen per tonne under rebound of offshore market though scrap dealers anticipated reduction. The dealers watch the market condition after they tried to liquidate at lower price with expectation for lower price until previous day. A dealer said the scrap dealers are happy with the stable official ingot price. Other dealer said the firm sells scrap based on 750,000 yen of ingot price. No.1 copper wire scrap price is estimated to be 685 yen per kilogram with lower appetite of the buyers at transactions on Tuesday and Wednesday when the market expected copper ingot price could decrease by as much as 50,000 yen per tonne. The scrap transaction price decreases to 675-680 yen per kg even based on 750,000 yen per tonne of copper ingot price. Bras scrap is apparently around 570 yen per kg when some makers pay 596 yen for new cutting brass scrap though the market price decreased by around 20 yen previous day under reduction of official zinc ingot price.