In June, the LME values for electrolytic copper fell in June month to month, and the foreign exchange rate also lowered, leading to a sharp drop in the Korean market prices entering into July as well. The Korean No.1 electrolytic copper producer, Poongsan Corporation, took action to cut its main product categories prices over July taking into account the raw materials price swings and foreign exchange rate alike. In case of Korean prices, pure copper flat product prices were set at 240,000 won a ton, brass copper flat product at 230,000~240,000 won a ton, phosphor bronze at 260,000~270,000 won a ton and nickel silver at 210,000~220,000 won a ton each, organizing therefore to set at the middle end of 9,000,000 won per ton for pure copper flat product, and the middle end of 8,000,000 won per ton on bronze copper respectively. The local prices apart from the foreign exchange rate effect slipped $170 per ton for pure copper flat, $160~170 a ton for brass copper flat, $180 a ton on phosphor bronze and $130~140 a ton for nickel silver respectively.
The bronze copper bar product prices repeated fall in nine months absence for May, while the largest bronze copper bar producer, Daechang, lowered 300,000 won a ton in the two months absence for bronze copper bar sales prices considering the change of raw material prices and market conditions as well. The sales prices of bronze copper that is used for drawing bar are formed around the lower or middle end of 7,000,000 won a ton.
Source: Steel&Metal News |
