Japanese Lead Official Price Increases by 5,000 yen to 265,000 yen

Mitsubishi Materials increased Japanese lead ingot official price by 5,000 yen to 265,000 yen per tonne for domestic shipment in April when lead price at London Metal Exchange increased, announced on Tuesday. The monthly averaged price would be 259,900 yen without any more revision within April.

Lead settlement at LME increased by US$ 35 to US$ 2,315 per tonne on Monday, which increased to more than US$ 2,300 for the first time since February 22. The price is US$ 84 higher than the price on April 6, which was the previous revision by Mitsubishi Materials.

Telegraphic transfer selling rate was 94 yen per US dollar on Monday, which increased by 0.76 yen from the previous revision.

Lead price is increasing at LME while nonferrous metals price is increasing since late March. Lead price increased by 15% on Monday from the recent bottom at US$ 2,001 per tonne on February 24.