In May, the LME prices of electrolytic copper crashed, and the impact pulled the Korean prices of all product scopes down in Korea. Poongsan Corporation, the national No.1 electrolytic copper producer, took a chorus decline in its offering prices across all the product scopes over May given the raw materials prices changes and foreign exchange rate swings.
The new tags of the Korean prices lowered 220,000 won per ton on copper flat concentrate, 180,000 won per ton on brass copper flat, 240,000~250,000 won per ton on phosphorus bronze, and 230,000~240,000 won a ton on nickel silver, respectively. The local export prices apart from the foreign exchange rate influence were cut by $420 a ton for copper flat concentrate, $330~360 a ton on brass copper flat, $460~480 a ton on phosphorous bronze, and $450~460 a ton on nickel silver, respectively.
Source: Steel&Metal News
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