Japan Al Ingot Price to Drop by 20 yen/kg for Oct-Dec

Japanese primary aluminium ingot price decreases by 20 yen to 250 yen per kilogram for October-December from current price. The price decreased for the first time since October-December 2010 due to weak overseas aluminium ingot price and higher yen exchange rate.

Japanese primary aluminium ingot price for October-December reflects offshore market price. Aluminium ingot price at London Metal Exchange was high in early June due to the expectation for output reduction in China from electric power supply. However, the price turned downward in mid-June. The price fluctuated after mid-July and the price was weak in August. The price decreased to less than US$ 2,400 per tonne on August 9 for the first time since January and decreased to US$ 2,309 on August 19. The price was US$ 2,402.5 on August 31.

Higher yen exchange rate keeps Japanese primary aluminium ingot price. The rate marked historical high after World War 2 at 75.95 yen per US dollar on August 19 and the rate stays around 77 yen per US dollar.