Nippon Mining & Metals Co, Japan's top copper smelter, said on Monday that it had raised its copper price by 20,000 yen per tonne to 580,000 yen ($4,867) - the highest since March 1980.
The company, part of Nippon Mining Holdings Inc, raised the price to reflect a record high price on the London Metal Exchange. The price rise was the fourth this month. As of 0056 GMT, the three-month LME copper contract was trading at $4,225/$4,235 per tonne after reaching a record high of $4,243 in London on Friday.
Nippon Mining last changed the price on Wednesday when it raised it by 20,000 yen to 560,000 yen. The three-month LME copper contract was at $4,139/$4,149 on that day. Nippon Mining's selling price is revised regularly to reflect fluctuations in the currency and metals markets.