Brass Rod Price Keeps Flat in Tokyo

The market price of brass rod is flat in Tokyo. The price is at around 770 yen per kilogram for free-cutting bar with 25 millimeters diameter, at around 780 yen per kg for products with 10 mm diameter and at around 830 yen per kg for products with 5 mm diameter.Nippon Shindo announced on Friday the firm decreases its purchasing price for brass turning scrap by 15 yen to 673 yen per kg, when Japanese official copper ingot price was revised down by 20,000 yen to 910,000 yen per tonne, the lowest level since April 2006. The official price was impacted by the decline of overseas copper markets due to concerns about inflation, higher interest rates and slower economy in U.S.A.Some of domestic brass rod users expect the market price could decrease thanks to twice down revision of Japanese official copper price in June. On the other hand, dealers aim to sustain the present price level when they could not pass increasing cost price on their reselling price enough yet.Brass rod demand maintains firm for automobile and semiconductor productive equipment. Dealers show strong selling stances when brass rod shipment is increasing despite copper price fluctuation. The market price would keep the present level for a while unless Japanese official copper price continues to decrease significantly.