Copper scrap market prices is potentially weak in Japan. JX Nippon Mining & Metals might lower its electrolytic copper selling price by 15,000-20,000 yen per tonne from latest 680,000 yen when offshore electrolytic copper market prices continued to decrease. Some of copper scrap dealers showed a position to lower their purchasing price by 5-10 yen per kg while scrap sellers stopped sales offers to wait for better price. Thus scrap trading volume is small.Around Tokyo, no.1 copper wire market price became to 590-600 yen per kg. One scrap dealer who holds sufficient inventory said they are unwilling to approve the price at above 600 yen even for large-lot sales offers when the domestic indicator seems to decrease. Meanwhile, another scrap dealer suggested they might face scrap shortage for June-July delivery quota to makers if market price continues to decrease and scrap generation volume maintains low. The dealer source said they are forced to increase the inventory at the high price above 600 yen. Market prices of copper scrap leveled off for the export. One major scrap exporter around Tokyo said Chinese buyers are in wait-and-see position when the market prices are likely to decrease. Scrap exporters show willingness to lower their purchasing prices by 10-15 yen per kg. Market prices might decrease to below 360 yen for non-shredded brass based mix scrap, with relatively less iron and stainless steel, and below 220 yen for thin electric wire scrap with insulator (containing copper at 43%). Around Osaka, no.1 copper wire market price seemed to weaken to 575-585 yen.
Japan Steel Scrap Composite Prices (Sangyo Press)02/02/2023
|50400YEN (-)||51700YEN (-)|
|389.19US$ (4.16)||399.23US$ (4.27)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)