Higher Offshore Market Lifts Japan Cu, Zn, Pb Prices

JX Nippon Mining & Metals announced on Monday the firm revised up official copper ingot price by 10,000 yen to 670,000 yen per tonne for the shipment in August. The price increased by around 10% compared with the price on July 22 and hit 2-month high. Japanese official price also increased for lead and zinc to reflect higher overseas market.

The official Japanese copper price increased to reflect higher international price. Copper price at London Metal Exchange increased to around US$ 7,300 per tonne in afternoon session on Friday while the settlement was US$ 7,195 or US$ 11 lower than the previous day price.

Mitsubishi Materials revised up official lead ingot price by 5,000 yen to 225,000 yen per tonne, which represented the highest price since May. Lead settlement at LME was US$ 2,065 per tonne, which was US$ 134.50 higher than the price on July 23 or when Mitsubishi Materials revised the official price previously.

Mitsui Mining & Smelting increased official zinc ingot price by 5,000 yen to 215,000 yen per tonne. The settlement at LME increased by US$ 82.50 to US$ 1,973.50 per tonne on Friday compared with the price on July 23 or when the firm revised the official price previously.