Weak Cu Scrap Price around Osaka

Copper scrap market price is flat with potential weakness at 700-710 yen per kilogram for higher grade electric wire scrap and 500-510 yen for brass new cutting scrap around Osaka. The price could decrease when copper settlement at London Metal Exchange hit 3 months low at US$ 9,048 per tonne on Friday and the scrap demand is impacted by earthquake in eastern Japan. The scrap dealers anticipate the users could reduce the consumption in eastern Japan in and after April.

Japanese copper ingot selling price decreased to 810,000 yen per tonne on Friday due to lower LME price. Most of copper scrap dealers are holding the scrap price. However, some dealer offer 690 yen per kg for higher grade electric wire scrap for small lot transaction. Under the pressure, the scrap market price could decrease more.

Copper scrap dealers’ transaction stopped around Tokyo on Monday due to the earthquake. The dealers’ purchase volume remains very low when they cannot collect the scrap under limited availability of energy. Most of the dealers expect the users could reduce the scrap purchase under reduced power supply.