Japan Official Copper and Zinc Prices Up, Lead Down

Nippon Mining & Metals announced on Thursday the firm raised the official copper ingot price by 10,000 yen to 910,000 yen per tonne for domestic shipment in May. The monthly average would be 915,000 yen without any more revision within May.

The revision reflected weaker yen against US dollar despite of the decline of overseas copper markets. The telegraphic transfer selling (TTS) rate was 106.32 yen per US dollar on 15 May, which weakened by 2.41 yen from 12 May and became the weakest since 107.31 yen on 28 February.

Mitsui Mining & Smelting announced on Thursday the firm revised up the official zinc ingot price by 15,000 yen to 280,000 yen per tonne for domestic shipment in May. The latest price reflected the upsurge of overseas zinc price and weaker TTS. The zinc price exceeded Japanese official lead ingot price after 9 months. The monthly average would be 276,700 yen.

Mitsubishi Materials announced on the same day the firm revised down the official lead ingot price by 4,000 yen to 278,000 yen per tonne for domestic shipment in May. The latest price dropped down by 30% from the recent peak in February and hit the yearly bottom to follow the decline of overseas lead market. The monthly average would be 287,600 yen.