Japan Official Copper and Zinc Prices Return to Highest Level

Nippon Mining & Metals announced on Wednesday the firm raised official copper ingot price by 40,000 yen to 980,000 yen per tonne for domestic shipment in September. The official price recovered to the level as high as 990,000 yen during July 14-20 following the sharp increase of overseas copper markets. Monthly averaged price became to 974,000 yen.Mitsui Mining & Smelting announced on Wednesday the firm raised official zinc ingot price by 27,000 yen to 466,000 yen per tonne for domestic shipment in September. The price increased to highest level in these 3 months thanks to the high zinc price at overseas market. Monthly averaged price became to 462,000 yen.Japanese smelters’ breakeven point with imported copper ore is estimated to be above 977,000 yen per tonne including 43,000 yen of premium and charges based on NY kerb on Wednesday, which represented US$ 7,965 per tonne for London Metal Exchange cash price.