Brass Turning Scrap Price Up in Tokyo

The market price of brass turning scrap upped by 25-30 yen to around 675 yen per kilogram in Tokyo when Nippon Shindo raised its purchasing price for brass turning scrap by 30 yen per kg, the indicator for the market price. On the other hand, some scrap dealers didn’t follow the hike by Nippon Shindo and set the purchasing price unchanged. The market price range widened.Most scrap dealers raised their purchasing prices for brass turning scrap on Friday, when many scrap dealers and brass bar makers held monthly price negotiations at the mid of June. Another background was that Japanese official copper ingot price was revised up on the same day.However, brass bar makers are decreasing the procurement volume for brass turning scrap. Scrap dealers can cover the shipment from regularly arrived inventories and need not to increase the purchasing volume and price for spot arrivals. Scrap dealer source said they set the spot purchasing price unchanged at 650 yen per kg to wait and see overseas copper market conditions on Monday. Another source pointed out generation volume of brass turning scrap is decreasing due to brass bar makers’ output decrease and the scrap supply might become tighter in near future.