Lower Electrolytic Copper Foil Price in Asia

Market price of electrolytic copper foil, which is used for printed circuit board, decreases when offshore copper ingot price decreased by 10% between October and December. Mitsui Mining & Smelting reduced the selling price by around 0.5 US cents per kilogram for commodity grade with 35 micrometers thick for January shipment for Asian market. The foil price could decrease more for March shipment when copper ingot price decreases in 2007 and the users seek lower price under inventory adjustment of finished products. The largest supplier of Mitsui Mining & Smelting reduced the selling price by 50-60 US cents per kg for Asian market for January shipment, which was the first full scale reduction in 4 years. The firm reduced the selling price temporally in August 2006 under lower copper ingot price but increased again in September with high level copper ingot price and strong demand. Nippon Mining & Metals reduced the selling price by 40-60 US cents per kg for January shipment under lower copper ingot price. Furukawa Circuit Foil said the firm has to reduce the price for March shipment with the current level of copper ingot price though the firm still keeps the price. Copper cash price decreased by 11% to US$ 6,675 per tonne at averaged settlement of London Metal Exchange in December compared with US$ 7,500 in October average. Mitsui Mining & Smelting and Nippon Mining & Metals reduced the foil selling price when the material of copper scrap price decreased by 10% for no.1 copper electric wire scrap during the period. LME copper price decreased by 15% to US$ 5,669 per tonne for average in January. The users seek lower foil price strongly when the foil demand decreases by around 20% from the peak under inventory adjustment for personal computer, cell phone and liquid crystal panel television. Asian market price of electrolytic copper foil is less than US$ 11 per kg for commodity grade with 35 micrometers thick. However, the price could decrease to less than US$ 11 for March shipment under lower copper ingot price and pressure from the users.