Copper Scrap Market Price Keeps Flat in Tokyo

Copper scrap market price keeps flat at around 645-655 yen per kilogram for no.1 copper wire scrap and at around 550-555 yen per kg for new cutting separated brass scrap in Tokyo. Scrap dealers are carefully watching the fluctuation of Japanese official copper price, which is 710,000 yen per tonne lately. The official price could be raised by 10,000 yen when Japanese smelters’ breakeven point with imported copper ore is estimated to be 720,000 yen per tonne at present.Copper scrap supply maintains tight in the market. The supply kept tight through the last half of 2006 and scrap generation became less in January. Dealers to delivery copper scrap directly to makers are facing much difficulty to procure enough scrap.Some dealers sold copper scrap at much cheaper prices when makers reduced scrap purchasing volume under the sharp decline of the official copper price at the beginning of this month. Overseas copper market recently recovered to around US$ 5,500 per tonne. Copper scrap dealers are keeping wait-and-see stances and even cheaper trading became slower.