Stable Cu Scrap Price in Tokyo, Osaka

Copper market price is firm around Tokyo and Osaka. The dealers expect the market would reflect higher offshore market when copper ingot price exceeded US$ 8,600 per tonne at afternoon session at London Metal Exchange. Japanese official copper ingot price could increase by around 15,000 yen per tonne despite of the higher yen rate.

A major dealer around Tokyo said the supply is stable enough to the supply commitment in April. The dealers hold the transactions to watch the market move.

No.1 copper wire scrap price is 655-665 yen per kilogram around Tokyo and 655-660 yen around Osaka. Copper scrap is 595-605 yen for standard grade scrap and 575-590 yen for low grade scrap for smelters around Tokyo. The standard grade scrap is 580 yen around Osaka.

Brass scrap price is 475-485 yen per kg for new cutting scrap and 415-425 yen for turning scrap around Tokyo. Bronze scrap is 475-485 yen per kg for standard grade casting scrap and 650-660 yen for new cutting phosphor bronze scrap around Tokyo. The standard grade bronze casting scrap is 480 around Osaka.

LME settlement was US$ 8,480 per tonne on Monday as Friday. The price reached US$ 8,600 in the afternoon due to better US economy indicators and higher US stock and commodity market. NY kerb increased by US$ 196 to US$ 8,640-8,641 on the day from previous operation day.

Telegraphic transfer selling rate increased by 1.40 yen to 82.80 yen per US dollar on Tuesday from Monday. Based on the condition, Japanese official copper ingot price could reach 740,000-755,000 yen per tonne.