Copper Scrap Market Price Levels Off in Japan

Copper scrap market price maintained flat in Japan on Monday. Electrolytic copper market price at overseas, the indicator, was stable at the end of last week and scrap market price became balanced with latest domestic copper ingot price of 750,000 yen per tonne. However, most scrap dealers have finished delivery for monthly quota to scrap users. Additionally one scrap dealer in Tokyo said they almost secured enough copper based scrap for December delivery. Scrap dealers are negative to raise their purchasing price.

Around Tokyo, market price of No.1 copper wire scrap is 660-670 yen per kilogram. One scrap dealer says they won’t pay above 665 yen at present though they accepted even more than 670 yen in mid October when scrap supply was very tight. The dealer also says they avoid spot procurement of middle grade copper scrap even at 595 yen. The price should reach 600 yen if the supply is tight. The demand is weakening from brass bar makers.

Scrap dealers’ demand is especially weak for new cutting brass scrap. The scrap dealer suggests they want to purchase the scrap at less than 485 yen for profitability though the market price is 485-490 yen.

Around Osaka, dealers’ price level seemed to slightly up to 665-675 yen for No.1 copper wire scrap, 645-655 yen for new cutting oxygen-free copper scrap, 590-600 yen for middle grade copper scrap and 565-575 yen for low grade copper scrap, when Japanese official electrolytic copper ingot price was raised last week.

Most scrap dealers finished monthly delivery in November. The demand is not strong and the purchasing price differs by 10-15 yen for No.1 copper wire scrap. Brass scrap price also levels off due to weak demand from copper alloy fabricators.