Nippon Mining & Metals announced on Thursday the firm revised down the electrolytic copper ingot selling price, the market indicator, by 20,000 yen to 610,000 yen per tonne for domestic shipment in August. The revision reflected downturn in overseas copper market and underlying trend of strong yen exchange rate against US dollar. This is the first down revision in a month. The latest price returned to the level as low as early August. The monthly average would be 614,700 yen without any more revision within August.
Offshore copper markets rapidly weakened since the end of last week to follow stock market decline. Copper price at London Metal Exchange dropped to below US$ 6,000 per tonne on August 19. The spot purchasing price in afternoon trading was US$ 5,913, lower by US$ 200 than the price on August 12 along which Nippon Mining & Metals previously revised the selling price. Telegraphic transfer selling rate was 95.26 yen per US dollar on Thursday, stronger by 1.86 yen than the day of Nippon Mining & Metals’ previous price revision.| M | T | W | T | F | S | S |
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| 11 | 12 | 13 | 14 | 15 | 16 | 17 |
| 18 | 19 | 20 | 21 | 22 | 23 | 24 |
| 25 | 26 | 27 | 28 | 29 | 30 | |
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
