Cu Scrap Market Prices Drop by 5-10 Yen/kg in Tokyo and Osaka

Copper scrap market prices totally dropped by 5-10 yen per kilogram in Tokyo and Osaka on Wednesday when JX Nippon Mining & Metals revised down its electrolytic copper selling price, the domestic indicator, by 10,000 yen to 630,000 yen per tonne. Scrap dealers around Osaka lowered their purchasing prices by 6-10 yen per kg. One dealer source said they had temporarily raised the purchasing prices when the indicator was revised up on June 8 but they are now willing to cut the purchasing prices more than the latest hike range due to the demand deterioration.

幸运飞艇官网 Scrap dealers around Osaka decreased their purchasing prices by 10 yen per kg for copper based scrap and by 6 yen per kg for brass scrap. They had raised the purchasing prices by 8 yen for copper based scrap and by 5 yen for other alloy scrap on June 8. Many dealers were negative to purchase large-lot no.1 copper wire scrap at above 550 yen per kg and new cutting oxygen-free copper scrap at above 525 yen.

There are little copper scrap generation and sales offers for both high and low grades in the market. Several scrap dealers said they need to approve even higher price if they actually want to acquire copper scrap. Meanwhile, copper alloy product makers are showing weak appetite in copper scrap procurement. Copper scrap dealers feel they should decrease the cost price due to the demand deterioration.

Around Tokyo, copper and copper alloy scrap market prices totally decreased by 5 yen per kg on Wednesday. Many dealers had set their purchasing prices unchanged on June 8 when offshore electrolytic copper market had already turned weak. Thus copper scrap prices returned to the level before June 8. The market prices are 555-565 yen for no.1 copper wire scrap and 535-545 yen for new cutting oxygen-free copper scrap.