Copper Scrap Market Price Nominally High in Osaka, Nagoya

Copper scrap market price is nominally high around Osaka and Nagoya. The market price rose by 6-8 yen per kilogram on Thursday when Nippon Mining & Metals raised its electrolytic copper selling price, the market indicator, by 10,000 yen to 630,000 yen per tonne. The scrap dealers are in summer holidays this week. The scrap trading will restart on Monday based on the nominally high price to reflect the latest copper price.

Copper spot price at London Metal Exchange rebounded by US$ 66 to US$ 6,113 per tonne at the purchasing price in afternoon trading on August 12 from the previous day. Copper spot price at New York Commodity Exchange hit the yearly record at 282.05 US cents per pound.

Nippon Mining & Metals’ latest ingot price hit the highest since October 2008. Domestic major copper alloy fabricators are expected to raise their purchasing prices for brass turning scrap by around 8 yen per kg on Monday. These indicators suggest the market price would surge by 8 yen per kg for copper scrap, by 6 yen per kg at least for brass scrap and by 5-7 yen per kg for bronze scrap on Monday.

No.1 copper wire scrap price is expected to approach 550 yen per kg around Osaka. New cutting brass scrap price would reach 429-443 yen per kg at dealers’ selling price for makers. Brass scrap price is in uptrend when scrap generation maintains low and copper alloy fabricators are positive to procure materials.

In Nagoya, the market price nominally increased by around 8 yen per kg for copper scrap and by around 6 yen per kg for brass scrap, though market players are waiting for makers’ price announcement expected on Monday. No.1 copper wire scrap price became 535-545 yen per kg and new cutting brass scrap price 390-400 yen per kg.