Japan Official Copper Price Decreases while Zinc Price Hits Record

Nippon Mining & Metals announced on Thursday the firm decreased official copper ingot price by 20,000 yen to 940,000 yen per tonne for domestic shipment in October. Monthly average became to 949,000 yen. The price was revised down again after decreasing by 20,000 yen on Monday due to the decline of overseas copper markets. Japanese official copper price has been revised 6 times within October, which returned to the level at 940,000 yen as same as the beginning of this month.Japanese smelters’ breakeven point with imported copper ore is estimated to be over 942,000 yen per tonne including 43,000 yen of premium and other charge based on New York kerb on Wednesday, which represented US$ 7,494.5 per tonne at LME cash price.Mitsui Mining & Smelting announced on Thursday the firm raised official zinc ingot price by 14,000 yen to 534,000 yen per tonne for domestic shipment in October. The price marked record again next to October 23 when overseas zinc market marked highest price. Japanese official price increased by more than 20% from the beginning of October and monthly average became to 494,000 yen.