Copper Scrap Price Drops by 12 Yen/kg or More in Tokyo, Osaka

Copper scrap market price decreased by 12-16 yen per kilogram around Tokyo on Tuesday after Japanese official copper ingot price decreased by 20,000 yen to 610,000 yen per tonne and Nippon Shindo reduced the brass turning scrap purchase price to 404 yen per kg. Copper scrap price decreased by 12-15 yen per kg around Osaka. With the lower scrap price, copper dealers concern the supply could get tighter.

The scrap dealers around Tokyo try to purchase No.1 copper wire scrap from the market at around 540 yen per kg when major rolled copper maker’s purchase price is less than 560 yen. However, the dealers have to pay near 560 yen for large lot offers. The dealers around Osaka pay 540-550 yen for No.1 copper wire scrap.

The market price is 395-405 yen per kg for new cutting brass scrap and 360-370 yen for brass turning scrap around Tokyo. The price is 400-405 yen for new cutting brass scrap and 365-375 yen for brass turning scrap around Osaka. The dealers, however, could pay more under tight supply despite of the downward trend in copper industry.

Copper ingot price decreased by US$ 136 to US$ 6,514 per tonne at settlement of London Metal Exchange on Monday from previous operation day. Telegraphic transfer selling rate increased by 0.54 yen to 87.91 yen per US dollar on Tuesday from previous operation day, which hit less than 88 yen for the first time since early December 2009. With the conditions, Japanese smelters’ breakeven point with imported ore decreased to around 610,000 yen per tonne.