Nippon Mining & Metals announced on Thursday the firm raised its copper ingot selling price, the market indicator, by 20,000 yen to 350,000 yen per tonne for domestic shipment in February. The monthly average would be 346,800 yen without any more revision within February.
The revision reflected the upsurge of copper price at London Metal Exchange. LME copper spot purchasing price was US$ 3,320 per tonne at settlement on 4 February, up by US$ 119 from the previous day, and reached US$ 3,408 in afternoon trading. LME price was higher by about US$ 320 compared with US$ 3,090 on 30 January, along which Nippon Mining & Metals previously revised the selling price. The telegraphic transfer selling rate was 90.42 yen per US dollar on Thursday. Domestic official ingot price was revised up to reflect higher LME price although Japanese yen maintained strong against US dollar.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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