Lower Japan Copper, Zinc Ingot Price

Nippon Mining & Metals announced on Tuesday the firm decreases the official copper ingot price by 30,000 yen to 760,000 yen per tonne for December shipment. The price is the lowest level since November 22. The averaged monthly price decreases to 782,100 yen. Mitsui Mining & Smelting announced the firm reduces the official zinc ingot price by 10,000 yen to 295,000 yen per tonne for the month. Nippon Mining & Metals reflects lower offshore copper price when London Metal Exchange market decreased to US$ 6,365 per tonne at settlement on Monday, which was the lowest level since March 14. Lower yen rate also impacted on the domestic official price when telegraphic transfer selling rate dropped to more than 114 yen per US dollar, which was lowest level in 40 days. Mitsui Mining & Smelting tries to reflect the lower offshore market when LME settlement decreased to US$ 2,240.50 per tonne on Monday. The domestic official zing price is as low as yearly low on November 21 and the averaged monthly price decreases to 304,400 yen per tonne.