Copper Strip Market Price Decreasing in Tokyo

Copper strip market price is decreasing to around 1,075 yen per kilogram for products with 1.5 millimeters thick and 100 mm width in Tokyo. Wholesalers decreased their reselling prices by about 50 yen per kg on and after January 22 when Japanese official copper ingot price, the indicator for copper rolled product prices, plunged to 710,000 yen per tonne in January, the lowest level since April 2006.Dealer source said they can decrease reselling prices easily but would face much difficulty to recover the prices. Dealers keep careful stances not to cut reselling price too widely. Dealers still hold inventories purchased mainly in November when copper price stayed even higher. Copper strip demand keeps steady mainly for connector pins applied into consumer appliances. Copper strip makers seem to raise their rolling charges in near future. Wholesalers cut the reselling prices by about 50 yen per kg with the factors. Wholesalers aim to keep the price level for a while and to decrease it gradually watching the situations. However, Japanese official copper price is likely to decline more. The market price might continue down following the official copper price.