JX Nippon Mining & Metals announced on Tuesday the firm raised its electrolytic copper selling price, the indicator for copper related product prices in Japan, by 10,000 yen to 680,000 yen per tonne for domestic shipment in January. The latest revision reflected overseas copper market price upsurge and the ingot price hit the highest in four months. The monthly average would be 657,300 yen without any more revision within January. The monthly average estimation rose by 3,100 yen.Copper settlement price (spot selling price in early trading) at London Metal Exchange (LME) was US$ 8,333 per tonne on January 23. The settlement represented higher by US$ 148 than the settlement along which JX Nippon Mining & Metals had previously revised its ingot selling price. Japanese major indicator hit 680,000 yen for the first time since September 2010. The price hit the yearly lowest at 560,000 yen in October when overseas copper market price declined along European financial crisis as well as economic slowdown in the U.S.A. and China. Current copper market involves a concern on European financial crisis while the market price is pushed up by an expectation for economic improvement in the U.S.A. and China. LME copper price returned to US$ 8,000 on January 16, the highest level in two and a half months, and maintains strong tone. Then Japanese indicator rebounded by 21% from the yearly bottom in 2011.
Japan Steel Scrap Composite Prices (Sangyo Press)03/30/2023
|52800YEN (-)||54000YEN (-)|
|395.36US$ (-3.79)||404.34US$ (-3.88)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)
- JMB Tieup company
- The Korea Metal Journal
- Steel on the net