Higher Offshore Copper Ingot Price to Lift Japan Scrap Price

Japanese copper scrap market price stays the level in Tokyo and Osaka. The price increase is slow despite of the higher international copper ingot price due to slow demand while some dealers around Tokyo increase the scrap purchase volume. The scrap price is based on 850,000 yen per tonne of Japanese official copper ingot price. The scrap price would increase gradually even for oversupplied higher grade scrap.

No.1 copper wire scrap price is 735-740 yen per kg around Tokyo. A dealer said the dealers don’t want to pay more than 740 yen. However, some large lot transaction price increased to around 745 yen. The price around Osaka is also 735-740 yen.

Brass turning scrap price is 515-520 yen per kg around Tokyo and some dealers are willing to pay around 530 yen. The dealers pay around 555 yen for standard grade bronze casting scrap while some transaction for higher grade scrap is 20 yen higher than the level.

International copper ingot price decreased by US$ 31 to US$ 9,591 per tonne at settlement of London Metal Exchange on Friday from previous day. The price increased to around US$ 9,650 in the afternoon session. NY kerb increased by US$ 62 to US$ 9,650-9,654 on Friday. Telegraphic transfer selling price decreased by 0.14 yen to 83.95 yen per US dollar on Monday from Friday level. Under the condition, theoretical Japanese official copper ingot price is just more than 850,000 yen per tonne.