Japan Official Copper Price Increases to 15-Year High
Japanese official copper metal price continued to renew recent high. Nippon Mining and Metals announced on Thursday it increased the price by 10,000 yen to 430,000 yen per tonne for April shipment, representing the highest level since October 1990. The price increased under 6-month low of yen rate and firm offshore copper price after it started the month at 420,000 yen, which was higher than the peak in 2004. The averaged monthly price increased by 8,000 yen to 428,000 yen. The price increased by 10% since the beginning of the year and the pace is accelerating when the price increased by around 5% in a half month.
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