Japanese copper scrap market price kept flat with potential decrease on Friday. JX Nippon Mining & Metals may lower its electrolytic copper ingot selling price, the price indicator for domestic copper scrap market, on Monday by 10,000 yen per tonne or more from present 820,000 yen along continuous price down at overseas copper markets. Scrap dealers’ demand is recently weakening. The dealers are negative to approve high offer prices even when the price indicator is likely to decrease.
Japanese copper smelters’ breakeven point with imported ore is estimated at around 807,000 yen per tonne as of December 17, lower than JX Nippon Mining & Metals’ latest ingot price. Around Tokyo, market price is 690-695 yen per kilogram for new cutting oxygen-free copper scrap, 535-540 yen per kg for new cutting brass scrap and 505 yen per kg for brass turning scrap. Scrap demand is weakening from copper alloy sheet and strip makers as well as brass bar makers. Major copper alloy fabricators are requesting price down against scrap dealers. Around Osaka, copper scrap market was in weak tone on Friday. Spot scrap trading has actually finished within this year. The market price for no.1 copper wire scrap was 700-705 yen per kg. One dealer source said they would offer 5-10 yen price down if there was spot sale of no.1 copper wire scrap. Another scrap dealer said they are willing to lower scrap purchasing price even for 3-month contracts for January-March.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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