Tight Supply Supports Japan Cu Scrap Price

Copper scrap market price is flat around Tokyo and Osaka under tight supply while Japanese official copper ingot price could decrease due to lower overseas market price on Friday. One dealer source said the dealer could not reduce scrap purchase price when the supply remains very low level.

The dealers’ bid price is 700-705 yen per kilogram for No.1 copper wire around Tokyo. However, major dealer source would pay around 730 yen for large volume transaction. The price is around 700-710 yen around Osaka while some dealers paid more than 720 yen early last week.

The dealers around Tokyo minimize the purchase volume at the loss making transactions when they reduce the supply commitment for contract users in July-September. The dealers around Osaka also hold the purchase activity when they cannot secure scrap even at higher price under limited availability.