Japan Official Copper and Zinc Prices Raised Up Again

Nippon Mining & Metals announced on Monday the firm raised official copper ingot price by 20,000 yen to 940,000 yen per tonne for domestic shipment in September. The price was revised up due to the rebound of overseas copper markets and stably weaker yen against US dollar. The monthly averaged price became to 943,000 yen.Japanese smelters’ breakeven point with imported copper ore is estimated to be over 938,000 yen per tonne including 43,000 yen of premium and other charge based on NY kerb on Friday, which represented US$ 7,611 per tonne at LME cash price.Mitsui Mining & Smelting announced on the same day the firm raised official zinc ingot price by 14,000 yen to 445,000 yen per tonne for domestic shipment in September. The price was revised up for the first time in 3 weeks thanks to high zinc price at overseas. The monthly averaged price became to 444,500 yen.