Nippon Mining & Metals announced on Tuesday the firm set official copper ingot price at 950,000 yen per tonne for domestic shipment in August, unchanged from the end of July. The price kept flat when overseas copper markets rebounded sharply toward the end of July while the foreign exchange rate of yen became stronger against US dollar with expectation the US interest rate would not be raised in the short term.Overseas copper markets rebounded sharply toward the end of July with the news of landslide accident at Chuquicamata mine in Chile and the expectation the strike might break out at Escondida mine in Chile. Copper settlement price at London Metal Exchange continued to increase for 4 trading days in a row since July 26 and reached US$ 7,850.5 per tonne on Monday, the highest level in a half month. Mitsui Mining & Smelting announced on Tuesday the firm raised official zinc ingot price by 20,000 yen to 430,000 yen per tonne for domestic shipment in August. The firm revised up the price for the first time since July 12 due to the increase of overseas zinc market. Mitsubishi Materials announced on Tuesday the firm raised official lead ingot price by 4,000 yen to 168,000 yen per tonne for domestic shipment in August, when LME lead spot price increased to US$ 1,111 per tonne at settlement on Monday, the highest level in these 2 weeks.
Japan Steel Scrap Composite Prices (Sangyo Press)02/02/2023
|50400YEN (-)||51700YEN (-)|
|389.19US$ (4.16)||399.23US$ (4.27)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)