Japan Official Copper and Lead Prices Raised Up

Nippon Mining & Metals announced on Tuesday the firm raised the official copper ingot price by 20,000 yen to 780,000 yen per tonne for domestic shipment in March. The price recovered to the highest level since February 23 to reflect upsurge of offshore copper markets and cheaper yen against US dollar. The firm has revised the official price four times within March. The monthly average became to 768,500 yen.

Mitsubishi Materials raised the official lead ingot price on Tuesday by 10,000 yen to 270,000 yen per tonne for domestic shipment in March. The official price marked the yearly highest and approached the record at 280,000 yen on April 1, 1981. Overseas lead market maintained steady and the foreign exchange rate of yen weakened against US dollar. The monthly average became to 267,000 yen.