Higher Japan Copper, Zinc Ingot Price

Nippon Mining & Metals increased the official copper ingot price by 10,000 yen to 940,000 yen per tonne for February shipment. The firm reflects the surging offshore market by the 6th revision in the month. The firm increased the price by 14.6% or 120,000 yen in the month. The price is the highest level since November 2, 2007. The averaged monthly price increases to 889,000 yen in February compared with 813,600 yen in January. Mitsui Mining & Smelting increased the official zinc price by 15,000 yen to 310,000 yen per tonne for February shipment. The price increased to 8-week high under strong offshore market and lower yen rate. The averaged monthly price increases to 300,000 yen for February. London Metal Exchange’s zinc settlement price increased by US$ 14.50 to US$ 2,465.50 per tonne on Monday from previous trading day under strong mood for metals including copper. The price was US$ 81.50 higher than February 6, when Mitsui Mining & Smelting revised the price.