Weak Copper Scrap Price in Tokyo, Osaka

Copper scrap market price is flat at around Osaka and Tokyo but could decrease. The dealers try to reduce the scrap purchase price when the buyers already started to secure the scrap for requirement in January and February while Japanese official copper ingot price is already low level at 660,000 yen per tonne.

Under the current international copper price and yen rate, Japanese copper price represents 620-624 yen per kilogram. The price is the level of the official price while the official price was expected to increase before the international price decreased and yen rate increased. Majority of copper scrap market expects the official copper ingot price will decrease. With the expectation, the scrap dealers try to reduce the scrap purchase price.

The scrap market price is 565-575 yen per kg for no.1 copper wire around Tokyo. The dealers are reluctant to pay more than 580 yen despite of low level scrap generation. The dealers are now cautious to pay more than 410 yen for brass turning scrap when the buyers of brass makers could reduce the purchase volume in early 2010.

Some scrap dealers pay more than 570 yen per kg for no.1 copper wire scrap around Osaka while other dealers reject to pay 560 yen. The dealers’ activity is divided depending on the market view. Some dealers try to reduce the brass scrap to 390 yen level.