Copper Scrap Export Price Levels Off in Weak Mood, Tokyo

Market price of exporting copper scrap levels off around Tokyo. Scrap dealers around Tokyo purchase non-shredded brass based mix scrap, with relatively less iron and stainless steel, at 290-310 yen per kilogram and thin electric wire scrap with insulator (containing copper at 40-42%) at 170-180 yen per kg. Chinese scrap importers cannot suggest the purchasing price when overseas electrolytic copper market plunged since Friday. Japanese scrap dealers also cannot set their purchasing price.

Market price of brass based mix scrap stayed flat in July and turned gradual uptrend in August to follow electrolytic copper market upsurge. Some exporters currently paid as high as 330-340 yen for brass based mix scrap, which was 300-320 yen in July.

However, Chinese importers totally entered wait-and-see mood after electrolytic copper market price turned downward. A large exporter around Tokyo said there is no respond from Chinese importers to exporter’s offer price this week.

Japanese copper scrap export to China seems to slow down more if copper market price turns to downtrend. Domestic exporters may shift to weak purchasing stances with less demand.