Nippon Mining & Smelting announced on Friday the firm raised the official copper ingot price by 30,000 yen to 1.04 million yen per tonne for domestic shipment in July. The firm revised up the price only in 3 business days after the down revision on Tuesday. The latest price is the secondly highest record next to 1.05 million yen on May 7. The monthly average would become to 1.0271 million yen without additional revision within July.Overseas copper markets sharply rebounded on Thursday with expectation for Chinese strong economic growth and strike emergence at Southern Peru Copper Corporation. Copper spot price at London Metal Exchange recovered US$ 8,000 per tonne and reached US$ 8,001 at settlement on Thursday. Copper settlement at New York Mercantile Exchange hit US 370.95 cents per pound on Thursday, which exceeded US 370 cents for the first time since May 8, 2007.
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)