Lower Japan Primary Aluminium Ingot Price

Japanese primary aluminium ingot price decreases when aluminium ingot market drops at London Metal Exchange on Thursday and foreign exchange rate of yen increases against US dollar. The domestic price is less than 360 yen per kilogram after the price hit more than 380 yen on July 9. The price decreased by more than 20 yen in 3 weeks to the level in end of March. LME aluminium price dropped under lower copper price. The aluminium settlement price decreased to less than US$ 2,700 per tonne on Thursday. Foreign exchange rate of yen increased to 119 yen per US dollar at telegraphic transfer selling rate on the day after recent lower yen trend. Under the condition, domestic aluminium price decreased. Major Japanese trading firms expect the aluminium price could keep decreasing under worldwide oversupply. However, the price could keep relative higher level due to higher production cost, inflation by speculative money and uncertain foreign exchange rate.