Copper Scrap Market Price Turns Weak in Tokyo and Osaka

Copper scrap market price turned weak around Tokyo and Osaka on Wednesday. Scrap dealers suppose Nippon Mining & Metals’ electrolytic copper selling price, the market indicator, may be lowered by 20,000-30,000 yen per tonne on Thursday when overseas copper market declined and yen exchange rate strengthened against US dollar. Scrap dealers also eyed Mitsui Mining & Smelting’s announcement on Wednesday to decrease its electrolytic zinc selling price by 10,000 yen per tonne.

Scrap dealers around Tokyo paid averagely 650-660 yen per kilogram for No.1 copper wire scrap on Tuesday in balance with Nippon Mining & Metals’ ingot price at 750,000 yen per tonne. On Wednesday, scrap dealers lowered their purchasing price by about 20 yen to 630-640 yen. They also decreased the purchase price for brass scrap by 15-20 yen per kg. New cutting brass scrap price lowered to around 480 yen and brass turning scrap price to 440-450 yen.

Around Osaka, scrap trading almost stopped among dealers with an expectation Nippon Mining & Metals should decrease the ingot price. Scrap dealers lowered their purchasing price to 630-640 yen for no.1 copper wire scrap and to 610-620 yen for new cutting high grade copper scrap. They also decreased the purchase price for brass scrap by about 10 yen per kg.