Tight Supply Supports Japan Copper Scrap Price

Copper scrap market price stayed flat in the strong mood around Tokyo and Osaka. The market price keeps high when offshore electrolytic copper market fluctuates in the narrow range and copper scrap generation maintains very low. Meanwhile, some scrap dealers are negative to purchase copper scrap at extremely high price before Japanese long holidays starting at the end of this month.

The scrap dealers around Tokyo paid averagely 690-700 yen per kilogram for no.1 copper wire scrap on Monday. Some paid 710 yen or more for a large lot offer but most dealers were negative to approve extremely high price before the long holidays. The market price was around 665-675 yen per kg for new cutting oxygen free copper scrap.

Brass turning scrap was around 475-480 yen per kg on Monday. Some of local brass bar makers are increasing the purchase volume of brass rod end scrap since brass turning scrap generation maintains inactive.

Around Osaka, there is a wide price gap among scrap dealers those who hope to secure the volume immediately and those who don’t. Active dealers are approving relatively high price to procure enough volume of scrap for May quotas.

One dealer said to pay 720-730 yen per kg to purchase no.1 copper wire scrap against the offer at above 730 yen. However, the actual contracts are few and the market price is nominally high, said several scrap dealers around Osaka. The middle price range is around 690-700 yen.