Copper Scrap and Brass Bar Market Prices Keep Flat, Tokyo

Copper scrap market price maintained flat around Tokyo on Wednesday. Electrolytic copper price, the indicator, strongly surged at overseas markets but scrap dealers were inactive to purchase scrap newly at high prices. Most dealers have finished monthly delivery quotas in December. Meanwhile, copper scrap generation seems to be decreasing.

One scrap dealer said scrap procurement has almost finished even for delivery quota in January. Scrap dealers are unwilling to purchase scrap newly at high prices when electrolytic copper market price may turn downward from the current high level.

No.1 copper wire scrap market price kept unchanged at around 710-715 yen per kilogram on Wednesday. There have been aggressive sales offers from scrap collectors with surplus inventories. The sales offers are gradually decreasing, according to a scrap dealer.

Export market price of copper scrap also kept flat despite of strong upsurge in overseas electrolytic copper markets. Meanwhile, one major exporter indicated offshore demand for Japanese copper scrap may improve from the beginning of next year toward Chinese New Year holidays.

Brass bar market price also maintained flat around Tokyo on Wednesday though the market mood turned potentially strong. The market price was around 660 yen per kg for free cutting bar with 25 millimeters diameter and around 700 yen per kg for cadmium free round bar with 25 mm diameter. One major dealer raised the reselling price by 30 yen in mid December and other wholesalers are likely to follow the hike.