Japan Cu Scrap Price Rises in Tokyo, Osaka

Japanese copper scrap market is slow in Tokyo and Osaka when the dealers wait revision of Japanese official copper ingot price. The official price is expected to increase by 25,000-35,000 yen per tonne to reflect higher offshore market. The scrap price already increased by 5-15 yen per kilogram on Monday.

The copper scrap price increased by 10-15 yen to 635-645 yen per kg for No.1 copper wire scrap and to 610-620 yen for new cutting scrap around Tokyo. The price is 640-650 yen for No.1 copper wire scrap and 620-630 yen for new cutting scrap around Osaka.

The brass scrap price increased by 5 yen to 445-455 yen per tonne for new cutting scrap and to 405-415 yen for turning scrap around Tokyo. The price is 440-455 yen for new cutting scrap and 360-370 yen for turning scrap around Osaka.

Offshore copper ingot price reached US$ 8,390.50 per tonne at settlement of London Metal Exchange on Friday. LME price increased to near US$ 8,500 at the afternoon session. NY kerb increased to US$ 8,495-8,500, which was US$ 168 higher than previous day. Telegraphic transfer selling rate was 83.30 per US dollar on Monday. Based on the conditions, Japanese official copper ingot price would be 735,000-745,000 yen compared with current 710,000 yen.