Japan Official Cu, Pb and Zn Prices Revised Down

JX Nippon Mining & Metals announced on Monday the firm revised down its electrolytic copper ingot selling price, the domestic market indicator, by 30,000 yen to 700,000 yen per tonne for domestic shipment in November. The price became 23,500 yen lower than the monthly average in October to reflect downturn in overseas copper markets. The firm’s selling price represents as low as 700,000 yen for the first time in last 6 weeks.

Copper settlement price at London Metal Exchange (LME) was US$ 8,225 per tonne on October 29, down by US$ 137.5 from the price on October 15 along which JX Nippon Mining & Metals previously revised its ingot price. Meanwhile, strong yen trend continued. Telegraphic transfer selling rate on Monday was 81.59 yen per US dollar and lowered the domestic ingot price.

Mitsubishi Materials announced on Monday the firm revised down its electrolytic lead ingot selling price by 8,000 yen to 242,000 yen per tonne for domestic shipment in November. The price lowered by 1,100 yen from the monthly average in October along with weak offshore market price. LME lead settlement was US$ 2,437 per tonne on October 29, down by US$ 57 from the price on October 22 along which Mitsubishi Materials previously revised the ingot price.

Mitsui Mining & Smelting revised down its electrolytic zinc ingot price by 10,000 yen to 240,000 yen per tonne on the same day. The revision reflected zinc price down at overseas market while the latest price is 2,700 yen higher than the monthly average in October. LME zinc settlement was US$ 2,392.5 per tonne, down by US$ 160 from the price on October 26 along which the firm previously revised the ingot price.