Japan Official Pb and Zn Prices Revised Up

Mitsubishi Materials announced on Tuesday the firm raised its selling price of electrolytic lead ingot, the domestic market indicator, by 10,000 yen to 208,000 yen per tonne. The revision reflected upsurge of lead market price at London Metal Exchange (LME) and weaker exchange rate of yen against US dollar. The monthly average would be 205,400 yen without any more revision within July.

LME lead settlement jumped by US$ 95 to US$ 1,699 per tonne on 20 July from 17 July. Telegraphic transfer selling rate on Tuesday was 95.01 yen per US dollar, weaker than 93.96 yen per US dollar on 9 July when Mitsubishi Materials previously revised its ingot selling price.

Mitsui Mining & Smelting announced on Tuesday the firm raised its selling price of electrolytic zinc, the domestic market indicator, by 20,000 yen to 200,000 yen per tonne. The latest price is as high as the yearly record marked in mid June. The monthly average would be 191,600 yen without any more revision within July. LME zinc settlement surged by US$ 123 to US$ 1,643 per tonne on 20 July from 17 July.