Cu Scrap Price Rises by 24-35 yen/kg in Tokyo, Osaka

Copper scrap market price increases by 24-34 yen per kilogram around Tokyo. When Japanese official copper ingot price increased by 40,000 yen to 740,000 yen per tonne to reflect higher offshore market. The scrap price increases by 24-35 yen per kg around Osaka. The scrap price increase is marginal when the dealers have inventory enough to the shipment level.

The scrap price increased by 32 yen to 655-665 yen per kg for No.1 copper wire scrap, 630-640 yen for new cutting copper scrap, 585-595 yen for standard grade copper scrap and 565-570 yen for lower grade copper scrap. The price increased by 24 yen for brass scrap and by 26-34 yen for bronze scrap. The price is 490-495 yen for new cutting brass scrap, 455-465 yen for brass turning scrap, 490-500 yen for standard grade bronze casting scrap, 660-670 yen for new cutting phosphor bronze scrap around Tokyo.

The scrap price increased by 30-35 yen per kg for copper scrap around Osaka at 660-670 yen for No.1 copper wire scarp, 640-650 yen for new cutting copper scrap and 580-600 yen for standard grade copper scrap. The brass scrap price increased by 24 yen to 490 yen for new cutting brass scrap and 460 yen for brass turning scrap. The standard grade bronze casting scrap price increased by 28 yen to 480-490 yen.

Scrap dealers are reluctant to reflect higher ingot price to the scrap purchase price when the supply gets less tight than before. A dealer said they can offer lower price level based on their scrap selling price for contract users when the buyers don’t purchase scrap at spot basis. The dealers offer price is based on estimated average monthly official ingot price of 734,000 yen per tonne, not the current official price.

Copper ingot price increased by US$ 121 to US$ 8,521.50 per tonne at settlement of London Metal Exchange on Thursday from previous day. NY kerb increased by US$ 210 to US$ 8,585-8,605. Yen exchange rate was 82 yen per US dollar at telegraphic transfer selling rate on Friday. Under the condition, theoretical level of Japanese official copper price is 740,000 yen per tonne.