Slow Japan Copper Scrap Market

Japanese copper scrap market price is slow while Japanese official copper ingot price reached 700,000 yen per tonne. The scrap dealers still hold high priced inventory. The buyers of rolled copper makers keep low level scrap purchase to avoid high priced scrap purchase. The scrap market is still uncertain.

Japanese official copper ingot price is 700,000 yen per tonne, at which the dealers were expected to liquidate high priced scrap inventory. The liquidation could increase transaction volume.

The dealers apparently increase the scrap sales since end of January around Tokyo. However, a dealer said the volume is smaller than expected. The dealers still hold the high priced inventory when offshore copper ingot price could increase more.

A scrap dealer expects rolled copper makers would keep the scrap purchase volume and price through March. The dealers expect they can meet the low level scrap demand while some of the dealers try to secure volume at higher price to meet large lot shipment contract.

A dealer around Osaka said the buyers of rolled copper makers wouldn’t increase the purchase volume through March. The dealers try to find market trend when offshore copper ingot price could lift Japanese official copper ingot price further.