Japan Copper Scrap Market Price Downs by 8 Yen/kg

Copper scrap market price totally downed by 8 yen per kilogram around Tokyo and Osaka on Wednesday, when JX Nippon Mining & Metals lowered its electrolytic copper ingot selling price, the indicator for copper scrap price, by 10,000 yen to 820,000 yen per tonne to reflect weak offshore copper market and strong yen trend.

Around Osaka, higher grade copper wire scrap market price downed to 715-725 yen per kg. Scrap generation maintains very few but, one scrap dealer said, they won’t pay more than 730 yen at present even for a large-lot sales offer at above 10 tonnes. Several scrap dealers seem to have finished scrap procurement for monthly delivery quota in May.

As for other copper based scrap, the local market price was 695-705 yen per kg for higher grade copper scrap, 625-635 yen for lower grade copper scrap and 595-605 yen for other copper scrap with above 95% copper content.

Brass based scrap market price also downed by about 8 yen per kg. However, the price trend is not weak due to low scrap generation. New cutting brass scrap is traded at around 530 yen among local dealers. The selling price to makers is currently 90-91% of theoretical brass price (617 yen) under the current official copper and zinc price against former 88%.

Brass turning scrap market price seems to have downed by only 5-8 yen to 495-510 yen per kg. Scrap generation maintains very few while major scrap users are aggressively purchasing brass turning scrap.

Around Tokyo, higher grade copper wire scrap market price downed to 720-730 yen per kg. New cutting oxygen-free copper scrap was 695-705 yen, lower grade copper scrap was 640-650 yen and other copper scrap with above 95% copper content was 610-620 yen.

Scrap dealers show strong willingness highr grade copper wire scrap, new cutting brass scrap and brass turning scrap. One scrap dealer was concerned there was no sales offer of higher grade copper wire scrap after JX Nippon Mining & Metals’ indicator revision down in last week. The dealer pointed out they must pay 740 yen for higher grade copper wire of a 10-tonne lot.