Mitsubishi Materials Hikes Lead Ingot by 5,000 yen/t

Mitsubishi Materials announced on Monday the firm increased the official lead ingot price by 5,000 yen to 173,000 yen per tonne for domestic shipment in August, which reached 3-month after 175,000 yen in May 17 under higher offshore market.Lead ingot price at London Metal Exchange increased by US$ 31 to US$ 1,135 per tonne at settlement on Friday from Thursday. The price surged to the highest level since July 14.Japanese official lead price increased to 171,000 yen per tonne in July 18 after the drop to 150,000 yen in June 20. The price increased in August associated with higher offshore price though the price dropped to 164,000 yen temporarily.