Japanese Copper Scrap Market Prices Turns Potentially Weak

Japanese copper scrap market prices turned potentially weak on Friday when offshore electrolytic copper market prices continued decreasing. JX Nippon Mining & Metals likely to revise down copper selling price by 15,000-20,000 yen for domestic shipment from lately announced 640,000 yen per tonne along with the offshore overseas copper prices and yen exchange rate. Meanwhile, copper scrap trading was very slow in Japan in the first week of January. Additionally most scrap dealers finished scrap procurement for January delivery quota to the consumers.

Around Tokyo, No.1 copper wire market price was 555-565 yen per kilogram on Friday. The price was likely to lower by 10 yen when JX Nippon Mining & Metals weakened but the actual effect was little due to very slow trading only after New Year holidays.

Brass based scrap market prices were 400-410 yen per kg for new cutting scrap and 355-365 yen per kg for turning scrap. Local brass bar makers reduce scrap purchasing volumes and prices in and after January. Then many scrap dealers consider brass scrap market prices would edge downward.

Around Osaka, No.1 copper wire market price also turned potentially weak. One major dealer said the market price may decrease to 545-550 yen soon from current 555-565 yen since the demand maintains weak.