Japan Cu Scrap Market Prices Lower by 14-16 Yen/kg

Copper scrap market price decreased by 14-15 yen per kilogram around Osaka on Tuesday when JX Nippon Mining & Metals revised down electrolytic copper selling price by 20,000 yen to 620,000 yen per tonne. Many scrap dealers returned to the market after New Year holidays on Tuesday. However, the trading was slow due to weak demand and downturn of JX Nippon Mining & Metals, several scrap dealers source said.

Copper based scrap price decreased by 15-16 yen. No.1 copper wire market price decreased to around 540 yen and some dealers paid as high as 550 yen for large-lot procurement. Many scrap dealers already finished scrap procurement for January delivery quota to the consumers. Then high price offers are rejected.

Brass based scrap price decreased by 14 yen. One major brass bar maker lowered its purchasing price of brass turning scrap by 12 yen while many scrap dealers added 2 yen price cut when the demand maintained weak.

Around Tokyo, copper scrap market price decreased by 14-16 yen on Tuesday. Actual trading was slow though many scrap dealers started New Year businesses. Copper based scrap price decreased by 16 yen and No.1 copper wire price was 540-550 yen.

Exporting scrap market price decreased by 5 yen. Scrap exporters around Tokyo Bay paid 350-360 yen for non-shredded brass based mix scrap, with relatively less iron and stainless steel, and 215-225 yen for thin electric wire scrap with insulator (containing copper at 43-45%). One exporter source said the exporters become unable to pay high price when Chinese scrap importers are likely to decrease the purchasing volume before Lunar Year holidays starting in late January.