Japan Official Copper and Lead Prices Revised Up

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 July. The firm revised up the price when overseas copper markets continued to increase sharply after the rebound in late June. The official price recovered to the level almost as high as 960,000 yen at the beginning of June. The monthly averaged price became to 932,000 yen per tonne.Japanese smelters’ breakeven point with imported copper ore is estimated to be 943,000 yen per tonne including 43,000 yen of premium and other charge based on New York kerb on Friday, which represented US$ 7,828 per tonne at LME cash price.Mitsubishi Materials announced on Monday the firm raised official lead ingot price by 4,000 yen to 161,000 yen per tonne for domestic shipment in July. The official price recovered to the level as high as June 1 thanks to high lead price at overseas market. The monthly averaged price became to 160,000 yen per tonne.