Copper Scrap Export Price Levels Off, Tokyo

Market price of exporting copper scrap levels off around Tokyo. Scrap demand from China maintains downward though electrolytic copper price is surging. Scrap dealers around Tokyo are purchasing non-shredded brass based mix scrap, with relatively less iron and stainless steel, at 275-285 yen per kilogram and thin electric wire scrap with insulator (containing copper at 40-42%) at 160-170 yen per kg.

Chinese authorities are continuing all container inspection on arriving metal scrap to prevent illegal imports. Tax base for value added tax is expected to keep upward in August along upsurge of copper market price.

Despite of severer scrap import terms, Chinese actual demand for Japanese copper scrap is not strong and the market price is not increasing much, according to Japanese scrap exporter. Chinese importers are inactive to procure Japanese scrap.

Especially, there is little demand for thin electric wire scrap with insulator from Tianjin importers, the main purchaser of Japanese thin electric wire scrap. Order receipts are also slow for brass based mix scrap.

Scrap exporters around Tokyo pay 305-325 yen per kg for non-shredded brass based mix scrap, 170-185 yen per kilogram for thin electric wire scrap with insulator containing 40-42% copper and around 200 yen per kg for thin electric wire scrap containing 43-44% copper.