Cu Scrap Export Price Keeps Low, Tokyo

Market price of export copper scrap maintains low around Tokyo. Local scrap exporters purchase non-shredded brass based mix scrap, with relatively less iron and stainless steel, at 245-265 yen per kilogram. The exporters pay 150-160 yen per kg for thin electric wire scrap with insulator (containing copper at 40-42%). The market price is weak when Chinese importers’ orders are stagnant despite of upsurge of electrolytic copper market.

Electrolytic copper price exceeded US$ 5,000 per tonne at London Metal Exchange and Japanese official ingot price recovered 500,000 yen per tonne in this month. Japanese scrap exporters are trying to reflect high copper price on the export price. However, the market price is capped.

An exporter source said Chinese importers seem to hold high-price scrap inventories purchased in April. Some orders continue from Chinese importers those who didn’t secure much scrap in April. However, the export volume is low and unstable as total with few orders from large customers.

The exporters pay 270-285 yen per kg for non-shredded brass based mix scrap and 170-185 yen per kg for thin electric wire scrap with insulator. These prices keep flat. A few exporters seem to pay as high as 400 yen per kg for non-shredded copper based mix scrap.