Nippon Mining & Metals Reduces Copper Price by 20,000 yen/t

Nippon Mining & Metals announced on Monday the firm decreased the official copper ingot price by 20,000 yen to 920,000 yen per tonne for August shipment. The price decreased to the lowest level since early June when the offshore market decreased. The monthly averaged price decreased to 939,500 yen. Japanese smelters’ breakeven point with imported copper ore is estimated to be near 922,000 yen per tonne including 43,000 yen of premium and charges based on NY kerb on Friday, which represented US$ 7,523 per tonne for cash price at London Metal Exchange.