Copper Scrap Price Keeps Flat in Tokyo

Copper scrap market price keeps flat around Tokyo. Japanese copper smelters’ breakeven point is estimated at about 950,000 yen per tonne along the slight upsurge of overseas copper market on 22 July. Japanese official copper ingot price, the indicator for copper scrap prices, was set at 940,000 yen by the latest revision. Scrap procurement became easier for scrap dealers along the latest official ingot price. However, the market price is cut down by some dealers for brass or phosphor bronze based scrap when the demand is stagnant.Scrap dealers are unwilling to pay high price for high grade copper scrap such as no.1 copper wire scrap, since they purchased much scrap at the beginning of this month when copper ingot price was higher than now. Meanwhile the market price keeps steady at around 850-855 yen per kilogram, fitting the level of the latest official copper ingot price.On the other hand, scrap dealers are decreasing procurement of brass and phosphor bronze scrap. Supply and demand of brass turning scrap was balanced with less generation. However, a large dealer source said the supply is being surplus against the market demand. The market price is around 840-845 yen per kg.