Japan Official Pb Price Revised Up to 255,000 Yen/t

Mitsubishi Materials announced on Thursday the firm raised its electrolytic lead selling price, the market indicator, by 24,000 yen to 255,000 yen per tonne for domestic shipment in September. The revision reflected edging lead market price at London Metal Exchange (LME) and weaker yen exchange rate against US dollar. The monthly average would be 247,500 yen without any more revision within September.

LME lead settlement was US$ 2,213 per tonne on September 23, down by US$ 21 from the previous day while up by US$ 103.5 from September 11 along which Mitsubishi Materials previously revised the ingot price.

Telegraphic transfer selling rate was 92.25 yen per US dollar on Thursday, weaker by 0.62 yen than the day of Mitsubishi Materials’ previous price revision. Mitsubishi Materials’ breakeven point surged due to high LME price and weaker yen exchange rate.

LME lead price jumped to above US$ 2,400 due to Chinese smelters’ closing and turned down. The price stopped falling at US$ 2,000-2,100 level and currently fluctuates at around US$ 2,100-2,300. Commodity market is totally stable.