Japan Official Copper and Zinc Prices Sharply Rebound

Nippon Mining & Metals announced on Thursday the firm raised the official copper ingot price by 50,000 yen to 970,000 yen per tonne for domestic shipment in September. The firm has revised the price 5 times within September. The latest price rebounded to the level as high as 6 August, 2007. The monthly average would be 925,000 yen without any more revision within September.Copper settlement at London Metal Exchange was US$ 7,819 per tonne on Wednesday, up by 2.9% from US$ 7,600 on Monday. Copper settlement at New York Mercantile Exchange surged up by 3.63% to US 356.75 cents per pound on Wednesday from US 344.25 cents on Monday.Mitsui Mining & Smelting announced on Thursday the firm raised the official zinc ingot price by 40,000 yen to 387,000 yen per tonne for domestic shipment in September. The official price was revised up for the first time in 3 weeks when LME zinc settlement jumped up by US$ 169.5 to US$ 2935.5 per tonne on Wednesday from previous day. The monthly average would be 373,700 yen without any more revision within September.

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