Flat Japan Copper Scrap Market

Copper scrap market price is flat in Japan. A scrap dealer around Tokyo expects Japanese official copper ingot price won’t recover 800,000 yen per tonne, level of which the dealers expects the scrap supply will increase. The dealers try to avoid high priced purchase after they secured shipment commitment for the month.

No.1 copper wire scrap price is 690-700 yen per kilogram around Tokyo, 690-695 yen around Osaka and 690-700 yen around Nagoya. A dealer around Tokyo said the dealers are reluctant to buy now at the high price when they already secured shipment commitment volume for the month.

Low grade copper scrap for smelters is 570-580 around Tokyo. Standard grade copper scrap price is around 600 yen around Osaka. A dealer source around Nagoya said the scrap price could keep high under tight supply.

Copper market price increased by US$ 125 to US$ 9,060 per tonne at London Metal Exchange on Tuesday from Monday. The transaction price hit US$ 9,129 at the afternoon session. Telegraphic transfer selling rate was 81.26 yen per US dollar on Wednesday, which was 0.07 yen higher than previous day. Under the condition, Japanese official copper price could increase by around 5,000 yen to 775,000 yen per tonne.