Firm Rolled Copper Price in Tokyo

Rolled copper market price is increasing around Tokyo due to higher raw materials price when official copper ingot price and brass turning scrap purchase price by rolled copper makers increased. The dealers reselling price increases by more than 10 yen per kilogram while phosphor bronze sheet and strip price is expected to increase by around 30 yen per kg with current copper ingot price. However, the users are reluctant to buy now for some rolled copper products while the dealers’ shipment is firm generally. The dealers try to keep the inventory low. The demand is relative lower for the upward price move. Japanese official copper ingot price decreased to 840,000 yen per tonne on June 20 from 1 million yen on May 15. The price increased again to 870,000 yen on June 27 and to 920,000 yen on July 6. Nippon Shindo also increased the brass bar purchase price since June 27 increasing to 670 yen per kg on July 3. Market sources expect those copper prices could keep firm for a while though the price has still uncertainty.