Japan Official Copper, Lead and Zinc Prices Revised Up

Nippon Mining & Metals announced on Monday the firm set the official copper ingot price at 820,000 yen per tonne for domestic shipment in December, which was revised up by 60,000 yen from the end of November. The latest price recovered to the level as high as 830,000 yen on 19 November.Copper spot price at London Metal Exchange was US$ 6,956 per tonne at settlement on Friday while copper spot price at New York Commodity Exchange was US 315.70 cents per pound on the same day, both of which sharply rebounded to the level as high as mid November.Japanese official copper price was also pushed up by weaker yen against US dollar. The telegraphic transfer selling rate was 111.91 yen per US dollar on Monday, which weakened from 109-110 yen per US dollar in late November due to the upsurge of New York stock market.Mitsubishi Materials announced on Monday the firm set the official lead ingot price at 384,000 yen per tonne for domestic shipment in December, up by 19,000 yen from the end of November. The latest price hit the highest in 3 weeks. LME lead settlement was US$ 3,050 per tonne on Friday, which downed by US$ 9.5 from the previous day but increased by US$ 139 from 26 November along which Mitsubishi Materials previously revised the official lead price. Mitsui Mining & Smelting announced on Monday the firm set the official zinc ingot price at 325,000 yen per tonne for domestic shipment in November, revised up by 40,000 yen from the end of November. The latest price hit the highest in 1.5 months. LME zinc settlement was US$ 2,530.5 per tonne on Friday, which increased by US$ 35.5 from the previous day while upped by US$ 209.5 from 20 November along which Mitsui Mining & Smelting previously revised the official zinc price.