Japanese Copper Scrap Market Price Rises along Indicator Upsurge

Copper scrap market price surged by 14-16 yen per kilogram around Tokyo and Osaka on Thursday when JX Nippon Mining & Metals raised its electrolytic copper ingot selling price, the indicator for copper scrap prices, by 20,000 yen to 820,000 yen per tonne to reflect sharp rise of overseas copper market prices. One scrap dealer in Tokyo said scrap delivery was not activated immediately on Thursday while the delivery volume is expected to increase next week since the indicator has risen by total 50,000 yen since the end of June.

Around Tokyo, copper based scrap prices totally upped by 16 yen per kg. The market price became 730-740 yen per kg for no.1 copper wire, 705-715 yen per kg for no.1 heavy copper, 645-655 yen per kg for no.2 heavy copper and 615-625 yen for other copper scrap with above 95% copper content. Some scrap dealers had paid as high as 740 yen for no.1 copper wire as of Wednesday while one scrap dealer said they can pay 745 yen ore more for a large-lot delivery since the price indicator was raised on Thursday.

Around Osaka, the market price totally increased by 15-16 yen. Scrap generation maintains very low while copper scrap users don’t show strong intention to procure additional materials. Scrap trading is inactive. Scrap delivery is also slow with an expectation that the price indicator may continue to surge. No.1 copper wire market price became around 729-739 yen.