Aluminium Scrap Price Keeps Flat in Tokyo

Aluminium scrap market price keeps flat at 375-380 yen per kilogram for high grade scrap in Tokyo. Overseas aluminium market, the indicator for domestic aluminium scrap price, is unforeseeable. Foreign exchange rate of yen maintains weaker against US dollar recently. The weaker yen pushes up Japanese domestic aluminium scrap market.Primary aluminium price at London Metal Exchange surged by US$ 34.5 to US$ 2,815.5 per tonne at settlement on Monday from Friday. Telegraphic transfer selling rate was relatively cheap level at around 121 yen per US dollar on Tuesday.Aluminium scrap dealers and secondary aluminium alloy makers started price negotiation for shipment in the second half of May this week. The makers’ purchasing price is expected to keep unchanged or surge slightly by 2-3 yen per kg for both high and low grade scrap. The purchasing price kept flat or upped by 3-5 yen per kg for high grade scrap while surged by 2-3 yen per kg for low grade scrap for shipment in the first half of May.Scrap dealing became relatively active compared with early May. Source of secondary aluminium alloy maker said scrap dealers might be afraid of aluminium price down impacted by the decline of overseas copper markets.