Japan Official Zinc and Lead Prices Raised Up

Mitsui Mining & Smelting announced on Friday the firm raised official zinc ingot price by 18,000 yen to 439,000 yen per tonne for domestic shipment in August. The price recovered to the level as high as July 12 thanks to high zinc market at overseas and weaker yen against US dollar. The averaged monthly price increased to 431,800 yen. Zinc spot price at London Metal Exchange (LME) increased sharply by US$ 57 to US$ 3,392 per tonne at settlement on Thursday from the previous day. The telegraphic transfer selling rate was 117.71 yen per US dollar on Friday, increasing by 0.61 yen from August 18 when Mitsui Mining & Smelting previously revised the official zinc price.Mitsubishi Materials announced on Friday the firm raised official lead ingot price by 4,000 yen to 184,000 yen per tonne for domestic shipment in August. The price reached the highest level since May 11 thanks to high lead market at overseas. The monthly averaged price became to 177,300 yen. LME lead spot price surged up by US$ 19.5 to US$ 1,205.5 per tonne at settlement on Thursday from the previous day.