Japanese Price Indicators Down for Copper, Lead, Unchanged for Zinc

JX Nippon Mining & Metals announced on Monday the firm revised down its electrolytic copper ingot selling price, the domestic market indicator, by 20,000 yen to 580,000 yen per tonne for domestic shipment in October. The price hit the lowest since October 2009. The firm reflected weak offshore copper market prices. Copper price at London Metal Exchange (LME) surged by US$ 156 to US$ 7,131.5 per tonne at settlement on September 30 from the previous trading day but the price dropped to the yearly lowest at below US$ 6,900 in afternoon trading.

Mitsubishi Materials revised down its electrolytic lead ingot selling price, the price indicator, by 18,000 yen to 208,000 yen per tonne for domestic shipment in October. The price hit the lowest since July 2010 to reflect drop down of LME lead spot price toward the end of September.

Meanwhile, Mitsui Mining & Smelting set its electrolytic zinc ingot selling price, another indicator, unchanged at 185,000 yen per tonne. LME zinc price was US$ 1,905 per tonne at settlement on September 30, which was US$ 45 higher than the settlement on September 26 along which Mitsui Mining & Smelting previously revised the selling price. However, LME price decreased to around US$ 1,850 in afternoon trading on the same day.