Japan Official Zinc and Lead Prices Revised Down

Mitsui Mining & Smelting announced on Tuesday the firm revised down the official zinc ingot price by 10,000 yen to 270,000 yen per tonne for domestic shipment in April. The latest price hit the yearly lowest since 26 March to reflect the decline of overseas zinc market. The monthly average would be 275,500 yen without any more revision within April.Zinc spot price at London Metal Exchange continued decreasing by US$ 21 to US$ 2,219.5 per tonne at settlement on 21 April from the previous day. Nonferrous metal prices were impacted by the weak tones all over commodity markets on 21 April, though LME zinc inventory decreased.Japanese official zinc price marked the yearly highest at 320,000 yen per tonne on 4 January and 3 March. The latest price is lower by 15% from the yearly peak when LME zinc price downed by 20% from the highest price in March and Japanese yen became relatively weaker against US dollar.Mitsubishi Materials announced on Tuesday the firm revised down the official lead ingot price by 12,000 yen to 329,000 yen per tonne for domestic shipment in April. The monthly average would be 334,300 yen without any more revision within April. LME lead settlement was US$ 2,805 per tonne on 21 April, down by US$ 9.5 from the previous day to reflect higher LME inventory and weak tones in commodity markets.