Flat Japan Copper Scrap Price in Holiday

Copper scrap market price was left unchanged around Tokyo when many dealers’ transaction slows in Japanese holiday.

Copper settlement at London Metal Exchange decreased by US$ 51.5 per tonne to US$ 8,802 on Thursday from Wednesday and copper price at COMEX increased by 11.9 US cents per pound to 400.45 US cents. Overseas copper market price rebounded in last week.

Japanese copper ingot official price would be able to increase by 10,000 yen per tonne on August 15. Many dealers will decide pricing depending on overseas market price after August 15. The scrap generation maintains low from market. However, many dealers forecasts dealers’ shipment increases to copper products makers when the demand for automobile recovers. The supply and demand balance is expected to continue tight though the generation slightly increases after the holiday.

Copper scrap price is 650-660 per kilogram for No.1 copper wire, 455-460 yen for new cutting brass and 420-430 yen for brass turning.

Copper scrap transaction was low around Osaka due to slow transaction despite of overseas copper price rebound on Friday. Many dealers will wait and see until overseas market price calms down.

Telegraphic transfer selling rate was record high level at 78.02 yen per US dollar. Copper market price increase at overseas market canceled out the strong yen effect on Friday. Japanese copper ingot official price would increase by 10,000 yen per tonne on August 15.

The copper scrap market price was expected to rebound, but the price didn’t change around Osaka when dealers take wait and see position in holiday. Copper scrap price is 640-660 yen per kilogram for No.1 copper wire, 445-455 yen for new cutting brass, 410-430 yen for brass turning.