Mitsui Mining & Smelting announced on Monday the firm raised official zinc ingot price by 8,000 yen to 568,000 yen per tonne for domestic shipment in December. The price was revised up when yen exchange rate became weaker against US dollar and overseas zinc market maintained steady at over US$ 4,400 per tonne. The monthly averaged price became to 565,100 yen.
World zinc spot supply is most tightening among nonferrous metals, even though zinc spot price at London Metal Exchange decreased by US$ 34.5 to US$ 4,430.5 per tonne at settlement on Friday from Thursday. Zinc inventory held by LME decreased to 85,650 tonnes on Friday from 400,000 tonnes at the beginning of 2006. LME zinc price keeps high under the supply tightness. Japanese official zinc price hit record 581,000 yen per tonne on November 27 and stays at the level.Japan Steel Scrap Composite Prices (Sangyo Press)
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