Nippon Mining & Metals announced on Thursday that it would revised down the official copper ingot price for domestic shipment in February by 20,000 yen per tonne to 620,000 yen the day. The copper ingot price at overseas market which is used as an index for domestic official price had come tumbling down last week. The copper ingot price with settlement basis at London Metal Exchange marked US$4954 per tonne on Wednesday local time and it had dropped sharply by US$ 191.5 from the historic high on last Monday. Moreover, the spot price drops continuously to US$ 4847.5 at curb dealings at NY market in LME spot price equivalent on Wednesday local time. These became a trigger of price reduction.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)