Japanese brass bar makers increase purchase price of copper scrap when they try to secure materials under tight supply due to low level generation and higher brass bar production. The makers, however, couldn’t secure scrap enough to the requirement when copper smelters also increase the purchase price.
Domestic brass bar makers reduced the scrap purchase volume and price since the beginning of the year due to very low level production. However, some of the makers increased the price for brass turning scrap and other grade of copper scrap in the month. The brass bar makers increase the scrap purchase volume since June when they finished inventory adjustment. A dealer source said a maker, which plans major maintenance outage in the summer, increases the scrap purchase to build billet inventory in July. The dealer said the scrap generation is very low due to manufacturers’ operation is still low level and the dealers’ purchase volume is several 10% lower than normal level. The buyers had to increase the purchase price to secure materials. Especially middle grade of copper scrap supply is tight when lower grade scrap price surged due to higher demand from smelters. The market price of middle grade scrap is increases partly due to high priced export of mixed cargo with lower and middle grade scrap to China. However, the brass bar makers’ scrap purchase price is only marginally higher than smelters’ purchase price. A dealer source said the dealers could keep shipping to smelters due to the easier handling. The brass bar makers’ scrap procurement is likely to be severe for a while when scrap generation will keep low level.Japan Steel Scrap Composite Prices (Sangyo Press)
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