Nippon Mining & Metals announced on Wednesday the firm lowered its electrolytic copper selling price, the market indicator, by 20,000 yen to 510,000 yen per tonne for domestic shipment in June. The firm has revised the price 5 times within June while decreased the price twice in a row on 18 June and 24 June. The monthly average is likely to be fixed at 523,600 yen for June, higher by 26,000 yen than May.
Copper price at London Metal Exchange continued to decline on 23 June. The spot purchasing price in afternoon trading was US$ 4,772 per tonne, the lowest level since the end of May. The price was lower by more than US$ 140 compared with US$ 4,914 along which Nippon Mining & Metals previously announced its ingot selling price. At the same time, Japanese yen exchange rate stays strong against US dollar. The telegraphic transfer selling rate was 96.42 yen per US dollar on Wednesday.Japan Steel Scrap Composite Prices (Sangyo Press)
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