Japanese copper industries express strong concerns on BHP Billiton’s acquisition plan against Rio Tinto, that is, market oligopoly by a few mineral majors. Nobuyoshi Soma, the chairman of Japan Mining Industry Association and the president of Furukawa Co., said at a regular press conference of the association on 25 September that copper ore price negotiation might become much harder for Japanese smelters if BHP Billiton succeeds in acquisition of Rio Tinto. The association will keep cautious watch on the matter, though which contemplates no concrete countermove.Kazuhiko Ohashi, the chairman of Japanese Electric Wire & Cable Makers’ Association and the president of Fujikura, and Toshinobu Hidaka, the secretary general of Japan Copper & Brass Association, also showed strong concerns on oligopoly advancement and continuous price upsurge in nonferrous metal market, which may be caused by BHP Billiton’s acquisition against Rio Tinto, at each association’s press conference held on 25 September.Mr. Ohashi explained that BHP Billiton and Rio Tinto represent total 20% shares in global bauxite production and that over 30% of the production would be occupied by BHP Billiton, Rio Tinto and Alcoa. As to copper concentrate, BHP Billiton and Rio Tinto hold total 13% shares in the global output.
Japan Steel Scrap Composite Prices (Sangyo Press)
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