Nippon Mining & Metals increased the official copper ingot price by 30,000 yen to 630,000 yen per tonne for February shipment on Wednesday. The price is the highest level after 670,000 yen on March 7-11 in 1980. The offshore copper price surged both in London and New York when fund and speculating money bought the materials in late January with expectation of potential shortage though the prices decreased slightly on Tuesday. The cash price was US$ 4,948.50 per tonne at London Metal Exchange and 229.65 US cents per pound at New York Mercantile Exchange keeping record high level. The foreign exchange rate of yen plunged against US dollar again when market expects another hike of interest rate in USA. Mitsubishi Materials announced on Wednesday the firm increased official lead ingot price by 12,000 yen to 205,000 yen per tonne for February shipment under higher offshore price and lower yen rate. The price is the highest level after 220,000 yen on March 15 in 1990. Mitsui Mining & Smelting announced on Wednesday it increased the official zinc price by 6,000 yen to 313,000 yen per tonne for February shipment under higher offshore price and lower yen rate. The price is the highest level after 330,000 yen on May 11 in 1990.
Japan Steel Scrap Composite Prices (Sangyo Press)12/01/2022
|46600YEN (-200)||47800YEN (-100)|
|337.46US$ (2.86)||346.15US$ (3.69)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)