Copper Scrap Price Nominally High in Nagoya

The market price of no.1 copper wire scrap is strong at around 855-860 yen per kilogram in Nagoya.Japanese official copper ingot price was revised up by 10,000 yen to 990,000 yen per tonne on April 17 to reflect continuous upsurge of overseas copper markets. Under the situation, the market price of no.1 copper wire scrap upped by about 8 yen per kg.Scrap arrival is active at dealers’ sites, while copper product makers receive a fewer orders due to extremely high copper price. Copper product makers are reducing copper scrap purchasing volume. Scrap dealers refrain from procurement of expensive copper scrap for surplus stock consequently.Copper spot price at London Metal Exchange exceeded US$ 8,000 per tonne for selling price in afternoon trade on Tuesday. Offshore copper markets maintain strong and Japanese official copper price would increase more to follow the trend. Scrap dealers are likely to reduce their trading volume with extremely high price. Copper scrap market price would keep nominally high.