Nippon Mining & Metals announced on Tuesday the firm decreased official copper ingot price by 30,000 yen to 930,000 yen per tonne for domestic shipment in June. The monthly averaged price decreased by 26,000 yen to 934,000 yen. The firm revised down the price when copper market was weak at London Metal Exchange (LME) on Monday, while copper price was rather steady at New York Mercantile Exchange (NYMEX).Break even point for imported ore, the indicator for Japanese official copper price, is estimated to be around 960,000 yen per tonne based on NYMEX copper price. Some of domestic copper users said the price revision range was at the appropriate level and some said excess. Some copper users appreciate the quick price revision by Nippon Mining & Metals when overseas copper markets are weakening.
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)