Copper Sheet Market Price in Weak Mood around Nagoya

The market price of copper sheet is weak around Nagoya at 1,050-1,100 yen per kilogram for small sheet with 2-millimeter thickness and at 1,200-1,250 yen per kg for large sheet with 2mm thickness. Japanese official copper ingot price, the indicator for copper fabricated products, was revised down by 30,000 yen to yearly bottom 770,000 yen per tonne on 16 September. Copper sheet market is weakening to follow the ingot price.Copper settlement at London Metal Exchange maintains weak at around US$ 6,800-6,850 per tonne with financial instability caused by US Lehman Brothers’ bankruptcy. Exchange rate of US dollar is sharply declining and the telegraphic transfer selling rate became 105.39 yen per US dollar on 16 September.Copper sheet makers and dealers around Nagoya almost finished price negotiations to hike rolling charges. Dealers are trying to put higher rolling charges on their reselling prices. However, the market tone is weak after copper ingot price dropped down. Demand is also slowing down from automobile related applications.High cost products will continue to arrive at dealers’ sites for a while. Dealers would seek moderate price level to watch purchasing cost and market demand.