Japan Official Pb Ingot Price Recovers 172,000 Yen/t

Mitsubishi Materials announced on Monday the firm raised its lead ingot selling price, the market indicator, by 5,000 yen to 172,000 yen per tonne for domestic shipment in March. Overseas lead market hit the yearly highest and Mitsubishi Material’s latest selling price recovered the level as high as the end of October 2008. The monthly average would be 165,100 yen without any more revision within March.

Lead settlement price at London Metal Exchange was US$ 1,266.5 per tonne on 13 March, up by US$ 36 from the previous day. The settlement was higher by US$ 76.5 from US$ 1,190 on 9 March along which Mitsubishi Materials previously revised its selling price. Telegraphic transfer selling rate on Monday was around 99-100 yen per US dollar, almost as same as previous revision time.

LME lead price maintains stable since the end of February along the decrease of LME lead inventory. The spot price exceeded 100-day average line and recovered US$ 1,200 per tonne after 4 months on 10 March. LME lead inventory continued deceasing last week, which had stayed around 60,000 tonnes since the end of last month.