Copper Scrap Price with Potential Increase in Nagoya

The market price of no.1 copper wire scrap keeps flat with potential increase at around 760-765 yen per kilogram in Nagoya. The price decreased by around 20 yen per kg from the beginning of December when Japanese official copper ingot price, the indicator for copper scrap market prices, was revised down twice by total 40,000 yen per tonne in early December and rebounded by 10,000 yen on December 15.

Copper settlement price at London Metal Exchange declined by more than US$ 300 per tonne from the beginning of this month. Overseas copper market maintains weak and Japanese official copper price is expected to down again following the overseas trend.

On the other hand, copper scrap supply is tightening in Nagoya. Scrap generation volume is much decreasing in the market. Some dealers face difficulties to acquire enough scrap, entering stock out even for December shipment in a case.

Scrap generation is unlikely to increase for a while. Scrap dealers cannot reduce their selling prices even when Japanese official copper price decreases.