Japan Official Zinc Price Raised by 11,000 yen/t

Nippon Mining & Metals announced on Tuesday it raised the official copper ingot price by 20,000 yen to 640,000 yen per tonne for domestic shipment in March. The price increased under higher offshore price and lower yen rate. The monthly averaged price increased to 631,800 yen. The firm revised the price 4 times in March including the revision on March 1.

Mitsui Mining & Smelting announced on Wednesday it raised the official zinc ingot price by 11,000 yen to 313,000 yen per tonne for domestic shipment in March. The monthly averaged price increased to 310,700 yen. The price increased to the level as high as 2 weeks ago, when the overseas zinc price recovered from the adjustment drop and maintains firm increase.

Zinc settlement price at London Metal Exchange (LME) increased by US$ 18.5 to US$ 2,263.5 per tonne on Tuesday from the previous day. LME zinc price was in the adjustment phase after it marked US$ 2,391 on February 7, the highest price since the LME transaction shifted from pound-based to dollar-based. However, the price bottomed out from US$ 2,015 on February 16 and increases to above US$ 2,250 at present.