Copper Strip Price Seems Increasing in Tokyo

Copper strip market price keeps flat with potential increase in Tokyo at around 1,180 yen per kilogram at dealers’ purchasing price without freight. Dealers aim to raise the reselling price by 20 yen per kg next week when Japanese official copper ingot price stays at the current level of 1.02 million yen per tonne. Domestic official copper price kept over 1 million yen through July and was revised up by 20,000 yen to 1.02 million yen on August 1.Copper product users have minimized their procurement just as much as immediate demand due to extremely high copper price. Spot purchasing trend accelerated in and after June in wide demand fields such as automobiles, electric appliances and daily goods. Dealer source said copper strip shipment largely declined in June and stayed at the same level in July. Dealers are concerned the shipment might become even slower in August and recover after October.However, dealers aim to keep the current price level when they have copper product stocks with much high prices.