Strong Cu Scrap Market Price in Tokyo

Copper scrap market price is flat with potential strong tone around Tokyo. Some scrap sellers increased sales to the dealers in the middle of last week with expectation for price decrease. However, the sales stopped when Nippon Mining & Metals revised down the official copper ingot price on Friday. One dealer source said the scrap purchase price is depending on the transaction under tight supply. The price would not decrease.

The market price is 725-735 yen per kilogram for No.1 copper wire scrap at the dealers’ purchase. The transaction price is over 10 yen per kg higher than the market price for 1 tonne level lots. One major dealer source pays 720 yen at maximum for No.1 heavy copper scrap while the supply is not as tight as No.1 copper wire.

However, the major dealer source said the dealers cannot pay 750 yen for No.1 copper wire scrap considering the selling price for major copper fabricators.