Korea's domestic brass bar prices refused to take swings from August last year will be raised swiftly entering into May, as the domestic largest brass bar producer, Daechang, decides to raise its selling prices up by 300,000 won per ton as of May 1 notifying of the price increase to the customers.
The Korean price of brass bar is traditionally influenced by the market conditions surrounding by electrolytic copper, copper scrap and zincs as well as the foreign exchange rate while moving in synch with the LME average values for copper flat, and copper tublar products supply and demand balances. .
The price increase this time assumed to be reflective of somewhat increased portion of the raw materials prices. In fact. the LME electrolytic copper price boosted 6.9 percent compared with August last year, and zinc prices too heightened 17.5 percent pressing the cost of production.
The product prices increase have been delayed on the prolonged off-seasonal reasons to date albeit a rise in the raw material prices, but the price tailoring looks no longer to put aside, the market participants told.
Source: Steel&Metal News |
