Nippon Mining & Metals announced on Monday the firm increases the official copper ingot price by 20,000 yen to 1 million yen per tonne for July shipment, which reaches 1 million yen for the first time in 8 weeks. Mitsubishi Materials increases the official lead ingot price renewing the record high. Mitsui Mining & Smelting reduces the official zinc ingot price, which dropped by 22.5% from peak on November 27, 2006. The official copper price dropped to 930,000 yen per tonne on June 11. However, the price increased under higher offshore market and 4 and half-year low foreign exchange rate of yen against US dollar. Copper settlement price increased by US$ 110 to US$ 7,650 per tonne at London Metal Exchange on Friday from previous day. Mitsubishi Materials increases the official lead ingot price by 19,000 yen to 371,000 yen per tonne for July shipment. The LME settlement price decreased by US$ 13 to US$ 2,647 per tonne on Friday from previous day. However, the price keeps high under tight supply due to higher Chinese export tariff and production trouble in Australia. Mitsui Mining and Smelting decreases the official zinc ingot price by 31,000 yen to 450,000 yen per tonne for July shipment when the LME market dropped by 13% in a month.
Japan Steel Scrap Composite Prices (Sangyo Press)05/23/2019
|29700YEN (-)||33600YEN (-)|
|266.89US$ (0.59)||301.94US$ (0.68)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)