Mitsui Mining and Smelting Raises Official Zinc Selling Price to 307,000 yen

A Japanese major non-ferrous maker Mitsui Mining and Smelting Co., Ltd. announced on Thursday that it raised the official zinc selling price to 307,000 yen per tonne by 18,000 yen per tonne on in the shipping on February. The price jumped the highest since June 26, 1990 at 308,000 yen per tonne before a backdrop of the overseas zinc market update and cheaper yen and strong dollar. The firm’s average zinc price on February increased to 283,500 yen per tonne. The firm’s near record zinc price is 308,000 yen per tonne on May 11, 1990.Zinc price of LME (London Metal Exchange) rose rapidly to US$2,270 per tonne by US$85.5 per tonne over the previous day in the settlement on Wednesday and are renewing the highest ever after dollar basis shifted. As for currency exchange, yen decreased to 116.63 yen against the dollar on telegraphic transfer selling rate and became the weak yen and strong dollar.