Japan Official Lead Ingot Price Raised to 416,000 yen/t

Mitsubishi Materials announced on Tuesday the firm raised the official lead ingot price by 4,000 yen to 416,000 yen per tonne for domestic shipment in August. The price was revised up when overseas lead market maintains steady. The monthly average became to 415,200 yen.

Lead settlement at London Metal Exchange downed by US$ 139 to US$ 3,251 per tonne on Monday from Friday impacted by the decline of LME copper price. However, LME lead price still stays at the historically high level which hit US$ 3,390 on Friday the highest in late 8 trading days.

Japanese domestic official price soared by about 90% from the beginning of this year and hit the record of 468,000 yen per tonne on 23 July thanks to the upsurge of LME lead price. The official price was revised down by 56,000 yen on 1 August when LME lead turned to decrease and the exchange rate of yen became stronger against US dollar.