Higher Copper and Zinc Prices in Japan

Japanese official copper ingot price keeps increasing under higher offshore market and lower yen rate. Nippon Mining & Metals announced on Wednesday the firm increases the official copper ingot price by 60,000 yen to 980,000 yen per tonne for April shipment. The average monthly price increased to 954,000 yen. The new price is third high as October 17, 2006. The price increased by 290,000 yen per tonne or 42.03% from recent bottom 690,000 yen on February 6, 2007 and by 110,000 yen or 12.6% from 870,000 yen of the beginning of April. Mitsui Mining & Smelting announced on Wednesday the firm increases the official zinc ingot price by 23,000 yen to 471,000 yen per tonne for April shipment. The price hit 3-month high under higher offshore market. Zinc ingot price increased by US$ 179 to US$ 3,581 per tonne at settlement of London Metal Exchange on Tuesday from Monday. The price increased with worldwide tight supply and higher copper price. Japanese zinc ingot price increased by 13% in a month due to higher offshore market after the Japanese price decreased to 417,000 yen per tonne on March 6 from 543,000 yen at the beginning of the year.