Japanese copper scrap export reached 30,000 tonnes for 2 months in a row. The export increased by 10% to 32,009 tonnes in April from a year earlier, according to the trade statistics announced by Ministry of Finance on Wednesday. The export to China increased by 13% to 29,490 tonnes. The export unit price was 251 yen per kilogram, 15 yen cheaper than a year earlier.The export volume largely increased in March when copper scrap market price surged and domestic scrap generation increased. Contracted scrap seemed to be shipped in April. Weak yen trend also stimulated the export. The monthly average of telegraphic transfer selling rate was higher than 80 yen per US dollar in April, followed by March. In addition, Japanese long holidays overlapped with Chinese May Day holidays in early May. Then Japanese exporters seemed to accelerate inventory release within April with concern on the market price downturn in May. New export contracts are slow at present. Chinese importers are offering low prices when electrolytic copper market price, the indicator, might decline more.
Japan Steel Scrap Composite Prices (Sangyo Press)09/18/2020
|26600YEN (-)||28600YEN (-)|
|251.32US$ (0.54)||270.22US$ (0.59)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)