Japan Official Zn Price Revised Up to 195,000 Yen/t

Mitsui Mining & Smelting announced on Thursday the firm raised its electrolytic zinc selling price, the market indicator, by 5,000 yen to 195,000 yen per tonne for domestic shipment in June. The revision reflected slight rebound of overseas zinc market and weaker exchange rate of yen against US dollar. The monthly average would be 192,700 yen without any more revision within June.

Zinc spot price at London Metal Market maintained upward trend on 24 June to follow upsurge of other nonferrous metal prices. The selling price in morning trading (settlement) was US$ 1,535.5 per tonne, up by US$ 27.5 from the previous day and higher than US$ 1,520 on 17 June along which Mitsui Mining & Smelting previously revised its ingot price. The spot selling price reached US$ 1,590 in afternoon trading on the same day after the announcement that US durable goods orders improved in May.

Additionally Japanese yen exchange rate became slightly weaker against US dollar. The telegraphic transfer selling rate was 96.91 yen per US dollar on Thursday, weaker by 0.49 yen compared with the day of Mitsui Mining & Smelting’ previous price revision.