Japan Official Copper Price Downs, Lead, Zinc Price Rise

Nippon Mining & Metals announced on Monday the firm decreases the official copper ingot price by 20,000 yen to 620,000 yen per tonne for September shipment. Mitsubishi Materials increased the official lead ingot price by 17,000 yen to 260,000 yen. Mitsui Mining & Smelting increased the official zinc ingot price by 5,000 yen to 220,000 yen. They reflect price change in offshore metal market.

The averaged official copper ingot price decreases by 15,800 yen to 624,200 yen per tonne for September. Nippon Mining & Metals reflects the lower offshore price under higher yen rate. Copper ingot price decreased to US$ 6,280 per tonne at London Metal Exchange on Friday due to higher copper inventory and slower recovery of US employment. The LME price was more than US$ 200 lower than the level on August 28 when Nippon Mining & Metals revised the price previously.

The averaged ingot price increased to 246,400 yen per tonne for lead and to 218,900 yen for zinc for September shipment. The lead and zinc price increased when LME price hit yearly high at US$ 2,255 per tonne for lead and at US$ 1,908 for zinc on Friday.