The market price of no.1 copper wire scrap is brisk at around 820 yen per kilogram in Tokyo. The price increased by 15 yen per kg this week when Japanese official copper ingot price, the indicator for copper scrap prices, was raised up by 20,000 yen to 940,000 yen per tonne on Monday.The official copper price is unlikely to increase again immediately due to the decline of overseas copper markets this week. However, copper scrap price keeps the favorable level on Monday when the scrap price increased following the official copper price.Some dealers say there is constant arrival of copper scrap at their sites and some say arrival is little. Copper scrap arrival and shipment rushed in early June when the market price plunged. Cargo movement settled down in the market after the rush and seems turning to the recovery at present, though the movement is still slow at some dealers.Scrap dealers are watching copper market conditions and users’ purchasing movement before entering summer vacation. The dealers might ship more copper scrap if overseas copper markets and domestic official copper price turn to decline after the recent sharp recovery.
Japan Steel Scrap Composite Prices (Sangyo Press)02/22/2024
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)