Japan Official Lead Price Reaches Over 200,000 y/t Again

Mitsubishi Materials announced on Thursday the firm raised official lead ingot price by 18,000 yen to 202,000 yen per tonne for domestic shipment in September. The price exceeded 200,000 yen for the first time since February 1-12, 2006 reflecting the increase of overseas lead market. Monthly averaged price became to 198,400 yen.Lead spot price at London Metal Exchange continued increasing to US$ 1,301 per tonne at settlement on Wednesday after the sharp surge by US$ 38 to US$ 1,297 on Tuesday from the previous day. LME lead settlement price fluctuated in the range from US$ 1,280 to US$ 1,450 during early February 2006, when Japanese official lead price marked 210,000 yen per tonne on February 7.