Nonferrous Scrap Deal Increases in Tokyo in July

Tokyo’s nonferrous metals scrap deal increased for all items except brass turning scrap in July from a year earlier, according to local industry group. Scrap arrivals totaled to 4,908 tonnes in July, up by 76% from a year earlier, and scrap shipments totaled to 4,973 tonnes, up by 79.9%, by local dealers. Shipments exceeded arrivals by 65 tonnes.Japanese official copper ingot price stayed at above 1 million yen per tonne through July and the monthly average hit record 1.0195 million yen. Scrap dealer source said copper alloy product makers kept strong purchasing for copper scrap despite of high price in July. Another source said Chinese scrap purchasing was also active in July. Total scrap dealing increased in July compared with July 2006 when scrap generation and demand were low.