Copper Scrap Price Rises by Up to 8 yen/kg in Tokyo, Osaka

Japanese copper scrap market price increased by up to yen per kilogram in Tokyo and Osaka on Monday. JX Nippon Mining & Metals increased the official copper ingot price by 10,000 yen to 870,000 yen per tonne on Monday. The higher domestic official copper price lifted the scrap market under balanced supply while the users reduce the scrap purchase volume.

The scrap market price is 8 yen higher at 755-765 yen per kg for No.1 copper wire scrap around Tokyo. The price is 730-740 yen for new cutting copper scrap, 680-690 yen for standard copper scrap and 650-665 yen for lower grade copper scrap. The price is more than 760 yen for No.1 copper wire scrap with more than 10 tonnes lot. The brass scrap market price is 560-565 yen for new cutting brass scrap and 530-540 yen for brass turning scrap.

The scrap market price is 745-755 yen per kg for No.1 copper wire scrap around Osaka, which is 6-8 yen higher than last week. The price is 725-735 yen for new cutting copper scrap, 650-670 yen for standard copper scrap and 635-655 yen for lower grade copper scrap. The brass scrap price increased by 5-6 yen to 550 yen for new cutting scrap and 525 yen for turning scrap.

The scrap generation is still low level. However, the dealers expect the higher scrap price would encourage scrap dealers to liquidate the inventory. The dealers are likely to pay higher price to secure the scrap.