Copper Scrap Price Keeps Flat in Tokyo

Copper scrap market price kept flat around Tokyo on Monday. The price was 860-870 yen per kilogram for no.1 copper wire scrap, 840-850 yen per kg for new cutting oxygen-free copper scrap, 700-710 yen per kg for new cutting separated brass scrap and 670-680 yen per kg for brass turning scrap at dealers’ purchasing price.Japanese smelters’ breakeven point with imported copper ore was estimated to increase to near 980,000 yen per tonne on Monday when overseas copper markets rebounded and the foreign exchange rate of yen became yearly cheapest against US dollar. However, domestic copper scrap prices have not reflected the upsurge of electrolytic copper ingot yet.Some scrap dealers raised their purchasing prices on Monday those who set the purchasing prices unchanged on Friday when Japanese official copper ingot price was revised up. Other dealers continue to set the price unchanged to watch and see overseas copper market conditions on Monday. Copper scrap market kept flat as total.Scrap arrival is stagnant at dealers’ sites and cargo movement is inactive in the market.