Japan Official Lead Price Decreases after a Month

Mitsubishi Materials announced on Monday the firm decreased official lead ingot price by 7,000 yen to 164,000 yen per tonne for domestic shipment in July. The price was revised down for the first time in a month due to the decline of overseas lead market. The monthly averaged price became to 162,900 yen.

Lead spot price at London Metal Exchange increased by US$ 20 to US$ 1,040 per tonne at settlement on Friday from the previous day. However, the price was cheaper by US$ 71 than the price on July 17 along which Mitsubishi Materials previously revised Japanese official lead price.