Japanese copper price quote JPY760, up by JPY20 since early June

                                          IRUNIV 2013/08/16

 In the midst of Japanese Obon vacation, on August 15th, the PPC (Pan Pacific Copper) company raised Japanese copper price quote by JPY20 to JPY760. The price quote of JPY760 has been a high price since beginning of June. It has influenced the rise in overseas copper market price these 2 weeks. The most recent LME copper market by August 14th has going up to 7,300 dollars.

l Market changes in the price quote of Japanese copper

 Article about the rise in overseas copper market is being published in another chapter, which the largest point is that the China's economy with a slight hard landing was improved suddenly in the end of June. Owing to the economic statistics which a sign of bottoming out is indicated is being noticeable, decline in LME and SHFE copper stocks became as the hook that has carried out a sudden rise.

 Many in copper raw materials industry have a lot of scrap stocks at price quote of JPY760, and they are watching with expectation to the destination of overseas copper market price.
→(Related article) Copper scrap market conditions in midsummer ~Be careful with heatstroke~

 At IRUNIVERSE, we predict 7,500 dollars in overseas copper market, and we believe that this price quote of JPY780 will be implemented soon. Therefore, Japanese copper-series scraps will be released a lot once in the market. But because the lack in Japanese copper-series scraps seems likely to be worse rather than in June, for example, although the price quote becomes JPY780, because it has been moving at the scrap price that already largely exceeded the price quote theoretical values, in actual condition, it may not be said as the best time to sell if it doesnot reach the price quote of JPY800. However, the price quote of JPY800 needs to be followed by currency exchanges. At the present time, the exchange hovers below JPY97-98 yen and JPY100. If anything, it is close to strong yen. Is the price quote of JPY800 an excessive expectation?
(IRuniverse Susan)

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