Copper Scrap Market Price Keeps Flat in Tokyo

Copper scrap market price is likely to down to around 663 yen per kilogram for new cutting separated brass scrap in Tokyo on 16 August when scrap dealers restart trading after Japanese summer holidays. The market price would decline by 10-15 yen to reflect the revision down of Japanese official copper ingot price by 30,000 yen per tonne on 10 August.Japanese official copper ingot price was revised down twice in August by total 80,000 yen per tonne. The latest price is 940,000 yen per tonne, the lowest level since mid June, 2007. The market price of new cutting separated brass scrap downed by more than 6% from 708 yen per kg at the beginning of August.Scrap dealers basically avoid purchasing surplus copper scrap with concerns whether the copper ingot price continues decreasing. On the other hand, some dealers actively purchase new cutting separated brass scrap. Dealers’ shipment of new cutting separated brass scrap is steady, while the shipment of brass bar materials such as brass turning scrap is stagnant.Copper alloy product makers are in low operations. However, the supply of new cutting separated brass scrap keeps relatively tight with less generation especially for non-plated scrap.