Mitsubishi Materials announced on Wednesday the firm raised official lead ingot price by 17,000 yen to 252,000 yen per tonne for domestic shipment in February. The price became to highest level after 25 years and 10 months, which exceeded 250,000 yen of latest record on November 8, 2006 and approached 280,000 yen on April 1, 1981. The monthly average became to 247,800 yen.Lead spot price at London Metal Exchange upped by US$ 35 to US$ 1,745 per tonne at settlement on Tuesday from Monday. The price surged when market sentiment was totally strong for nonferrous metals and Xstrata of Switzerland declared Force Majeure.Japanese official lead price hit latest record at 250,000 yen per tonne on November 8, 2006. The price temporarily declined by 10% to 223,000 yen and sharply rebounded in 2007 due to strong lead market at overseas and weaker yen rate against US dollar.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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