Japan Official Lead Price Raised to 185,000 yen/t

Mitsubishi Materials announced on Monday the firm raised the official lead ingot price by 4,000 yen to 185,000 yen per tonne for domestic shipment in March. The official price reflected the cheaper foreign exchange rate of yen against US dollar, while the lead price maintained flat at the high level in the overseas market. The price revise was after 2 weeks. Monthly averaged price became 183,500 yen per tonne.The telegraphic transfer selling (TTS) rate was 119.99 yen per one US dollar on Monday. The exchange rate of yen got cheaper against US dollar by 3.13 yen from the previous price revision on March 1. Dollar buying became active due to the observation that the US interest rate would be raised more. Lead settlement price at London Metal Exchange decreased by US$ 1 to US$ 1174.5 per tonne on Friday from the previous day.