Nippon Mining & Metals announced on Friday the firm revised down its electrolytic copper selling price, the market indicator, by 20,000 yen to 590,000 yen per tonne for domestic shipment in September. The latest price is as low as 580,000 yen in early August. The monthly average would be 617,800 yen without any more revision within September.Offshore copper markets plunged on September 24. At London Metal Exchange, spot purchasing price in afternoon trading dropped to below US$ 6,000 per tonne and hit the lowest since US$ 5,719 on July 31. Spot price at New York Commodity Exchange also hit the bottom since the end of July at 269.95 US cents per pound. In addition, telegraphic transfer selling rate on Friday was 91.82 yen per US dollar. US dollar is remarkably weakening against other currencies including yen.
Japan Steel Scrap Composite Prices (Sangyo Press)07/12/2018
|34300YEN (-)||38800YEN (-)|
|303.06US$ (-3.38)||342.82US$ (-3.83)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)