Copper Scrap Price Rises in Tokyo, Osaka

Japanese copper scrap market price increased by 5-6 yen per kilogram in Tokyo and by 5-7 yen in Osaka on Wednesday. Japanese official copper ingot price increased by 10,000 yen to 840,000 yen per tonne on Tuesday but the scrap transaction is still thin just after a week long holiday. The scrap price increase is slow partly due to slow demand from the users including rolled copper makers.

The copper scrap market price is 720-730 yen per kg for No.1 copper wire scrap, 695-705 yen for new cutting scrap, 650-660 yen for standard copper scrap and 625-635 yen for lower grade copper scrap around Tokyo. The scrap price is 725-735 yen for No.1 copper wire scrap and 705-715 yen for new cutting copper scrap around Osaka.

The brass scrap market price is 540-550 yen per kg for new cutting scrap, 510-520 yen for brass turning scrap, 545-555 yen for standard bronze casting scrap and 730-735 yen for new cutting phosphor bronze scrap around Tokyo. The brass turning scrap price is 504-514 yen around Osaka.

Offshore copper ingot market price hit record US$ 9,754 per tonne at settlement of London Metal Exchange on Tuesday. However, NY kerb decreased to US$ 9,580-9,581 on Tuesday. Telegraphic transfer selling rate was 83.03 yen per US dollar on Wednesday, which was 0.25 yen lower than previous day. Theoretical Japanese official copper ingot price is around 836,000 yen per tonne.