Japan’s Metal Smelters See 12 Billion Yen Cost Rise on Power
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Base-metal producers in Japan, the world’s third-largest economy, will face a 12 billion yen ($135 million) cost gain if power companies follow a rate increase by Tokyo Electric Power Co., according to an industry group.
Smelters of non-ferrous metals such as copper, nickel and zinc purchase a total of 5 billion kilowatt-hours each year, Masao Yamada, chairman of the Japan Mining Industry Association, told reporters today. Tokyo Electric raised corporate electricity rates by 16.7 percent in April before cutting them to 14.9 percent in September.