Japan Smelters Raise Cu, Zn Ingot Price

JX Nippon Mining & Metals revised up the official copper ingot price by 30,000 yen to 850,000 yen per tonne for domestic shipment in February, announced on Tuesday. The price is 16,400 yen higher than the averaged price in January after the firm reflected higher offshore market.

Copper price increased by US$ 130 to US$ 9,720 per tonne at settlement of London Metal Exchange on Monday from the previous trading day. The price increased to more than US$ 9,700 for the first time in 8 trading days and to near record high on January 19.

Mitsui Mining & Smelting revised up the official zinc ingot price by 5,000 yen to 240,000 yen per tonne for domestic shipment in February. The firm reflected higher offshore zinc price. LME zinc settlement was US$ 54 higher on Friday than the level in January 24 when the firm revised the official price previously. The official price is 1,800 yen lower than January average price.

Mitsubishi Materials announced on Tuesday the firm left the official lead ingot price unchanged at 260,000 yen per tonne for domestic shipment in February when the offshore price was in line with late January level. The official price is 5,700 yen lower than the averaged price in January due to higher price from the beginning of the year through late January.