Lower Japan Official Cu, Pb Price

JX Nippon Mining & Metals announced on Monday the firm reduced its electrolytic copper ingot selling price, the domestic market indicator, by 10,000 yen to 800,000 yen per tonne for August shipment. The price is 11,000 yen lower than the average price in July. The firm reflected higher yen exchange rate despite of higher offshore ingot market price.

Copper settlement at London Metal Exchange was US$ 9,731 per tonne on Friday, which increased by US$ 76 from the previous official price revision by the firm. Telegraphic transfer selling rate was 78.95 yen per US dollar on Monday, which increased by 1.2 yen during the period.

Mitsubishi Materials announced the firm reduced its electrolytic lead ingot selling price by 10,000 yen to 252,000 yen per tonne for August shipment. The firm adjusted the price to reflect 2.9 yen per US dollar higher yen rate since the previous revision and US$ 9 per tonne lower LME lead settlement.

Mitsui Mining & Smelting announced on Monday the firm left its electrolytic zinc ingot selling price unchanged at 235,000 yen per tonne for August shipment. The firm recognizes US$ 37.5 per tonne higher LME zinc settlement was canceled by higher yen rate.