Japan Official Lead and Zinc Prices Continue Down

Mitsubishi Materials announced on Monday the firm revised down the official lead ingot price by 14,000 yen to 233,000 yen per tonne for domestic shipment in June. The latest price decreased by 41% from the yearly peak in February and hit the annually lowest to reflect the decline of overseas lead market. The monthly average would be 240,400 yen without any more revision within June.Lead spot price at London Metal Exchange was US$ 1,800.5 per tonne at settlement on 13 June, down by US$ 36.5 from the previous day. The spot price continued decreasing to below US$ 2,800 in afternoon trading on the same day. Speculative funds are flowing out due to easier supply and demand balance.Mitsui Mining & Smelting announced on Monday the firm revised down the official zinc ingot price by 5,000 yen to 245,000 yen per tonne for domestic shipment in June. The monthly average would be 249,000 yen without any more revision within June. LME zinc settlement was US$ 1,850.5 per tonne on 13 June, which downed by about US$ 100 from the previous revision of Japanese official ingot price.