Japan Official Cu, Pb and Zn Prices Rebound at Yearly First Revision

Nippon Mining & Metals announced on Monday the firm set its copper ingot selling price at 340,000 yen per tonne for domestic shipment in January, the indicator for Japanese copper related product market. The price was revised up by 30,000 yen or 9.7% from the end of December. The firm raised the price for the first time since 19 November, 2008 and the latest price recovered the level as high as mid December.

Overseas copper markets rebounded on 2 January, along which the firm sets the selling price. Copper settlement at London Metal Exchange (LME) regained US$ 3,000 per tonne and reached US$ 3,153 in afternoon trading. Copper spot price at New York Commodity Exchange (COMEX) recovered to US 144.40 cents per pound. At the same time, the telegraphic transfer selling rate was 93.05 yen per US dollar on 5 January, which was 92.03 yen at the end of December.

Mitsubishi Materials announced on Monday the firm set its lead ingot selling price at 151,000 yen per tonne for domestic shipment in January, increasing by 20,000 yen or 15% from the end of December. LME lead spot price was US$ 1,040.5 per tonne at settlement on 2 January and reached US$ 1,080 in afternoon trading, the highest level in a month.

Mitsui Mining & Smelting announced on Monday the firm set its zinc ingot selling price at 155,000 yen per tonne for domestic shipment in January, up by 20,000 yen or 15% from the end of December. The latest price recovered the level as high as a month ago. LME zinc settlement on 2 January was US$ 1,220.5 per tonne, higher by US$ 175 than that on 17 December along which the firm previously revised its ingot selling price.