Copper Scrap Market Price Totally Lowers by 40-54 Yen/kg, Tokyo

Copper scrap market price dropped by 40-54 yen per kilogram around Tokyo on Monday when Nippon Mining & Metals revised down its electrolytic copper selling price, the market indicator, by 60,000 yen to 660,000 yen per tonne. A large scrap dealer source said scrap arrival volume would become even less at their sites because many scrap collectors minimize their shipment until copper market price rebounds.

Copper based scrap market prices lowered by around 54 yen per kg on Monday. The market price became 570-580 yen for no.1 copper wire scrap, 545-555 yen for new cutting oxygen free copper scrap, 500-510 yen for medium grade copper scrap and 475-485 yen for low grade scrap used by smelters.

Offshore copper markets entered an adjustment phase. Copper price at London Metal Exchange hit below US$ 7,000 per tonne. Several scrap dealers expect scrap market prices maintain weak for a while. Scrap generation keeps very low but the dealers are unwilling to purchase high price scrap at present.

Market price of brass based scrap almost followed Nippon Shindo’s price cut on Monday. Nippon Shindo revised down its purchasing price for brass turning scrap by 44 yen per kg. The market price lowered to 425-435 yen for new cutting brass scrap and 390-395 yen for brass turning scrap. Meanwhile, brass turning scrap market price is actually stable at around 400 yen due to supply tightness.

The market price lowered by 40 yen to around 395-405 yen per kg for medium grade bronze casting scrap while by 54 yen to around 560-570 yen per kg for new cutting phosphor bronze scrap used by copper alloy fabricators.