Nippon Mining & Metals announced on Friday the firm increased the official copper ingot price by 10,000 yen to 940,000 yen per tonne for August shipment. Mitsubishi Materials announced on Friday the firm increases the lead ingot price by 21,000 yen to 284,000 yen per tonne for August shipment.Nippon Mining & Metals increased the copper price after London Metal Exchange’s future price reached US$ 8,000 per tonne for the first time since July 23. International copper price rebounded with supply concern due to long strike in Mexico. Lower yen rate also lifted the Japanese price level. Mitsubishi Materials reflects the higher offshore price when LME lead settlement price reached US$ 2,230 per tonne on Thursday, which was US$ 194.5 higher than previous revision based on LME price on July 21. Mitsui Mining & Smelting kept the official zinc price at 250,000 yen per tonne for August shipment. LME zinc price was US$ 1,906.5 per tonne on Thursday, which was US$ 43.5 higher than previous day.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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