Japanese copper scrap import exceeded 10,000 tonnes per month for the first time in October. Japanese traders and dealers actively purchased imported copper scrap when yen exchange rate remarkably strengthened against US dollar. The import especially increased from Middle Eastern countries.
The import except for brass, phosphor bronze and other copper alloy scrap increased by 69% to 10,107 tonnes in October from a year earlier, according to Ministry of Finance. The import increased from 8,842 tonnes in the previous month and marked the record volume for 2 months in a row. A large scrap dealer in Tokyo points out they can recently procure imported copper scrap such from the U.S.A. at the price almost as cheap as Japanese copper scrap price thanks to the underlying trend of strong yen though imported scrap price had been higher by several ten thousand yen than domestic scrap price until this summer due to premium. Scrap exporters are also changing. In November 2009, the import from Southeast Asia was 4,127 tonnes and accounted for 50% in the total import. The import from Middle East was 1,220 tonnes and accounted for 15% in the total volume. In October 2010, the import from Southeast Asia was 4,893 tonnes, 48% in the total volume, while the import from Middle East was 2,115 tonnes, 21% in the total volume. Meanwhile, copper scrap import seems to have slowed down in November. Japanese copper alloy fabricators, the large-lot scrap consumers, entered output adjustment phase in or after October. Domestic scrap supply is loosing. One scrap dealer says high grade scrap supply is especially easy.Japan Steel Scrap Composite Prices (Sangyo Press)
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