JX Nippon Mining & Metals announced on Wednesday the firm revised down its electrolytic copper ingot selling price, the market indicator, by 20,000 yen to 660,000 yen per tonne for domestic shipment in August. The latest revision reflected copper price down at overseas markets and stronger yen exchange rate against US dollar. The monthly average price would be 665,000 yen without any more revision within August.
Copper settlement at London Metal Exchange was US$ 7,225 per tonne on August 10, lower by US$ 145.50 than settlement on August 4, along which JX Nippon Mining & Metals previously revised its ingot price. LME copper inventory has decreased but weak stock market affected LME copper price. Telegraphic transfer selling rate was 86.35 yen per US dollar on Wednesday. Yen strengthened by about 1 yen compared with the day of JX Nippon Mining & Metals’ previous price revision. Yen exchange rate has strengthened since Federal Reserve Board represented credit relaxation policy.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
2024/11/21| H2 | NewCutting (PRESS) |
| 41300YEN (-) | 43200YEN (-) |
| 264.52US$ (-0.38) | 276.69US$ (-0.39) |
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)
- JMB Tieup company
- The Korea Metal Journal
- ferro-alloys.com
- Steel on the net
- AMM
- MEPS
