Mitsui Mining & Smelting announced on Wednesday the firm decreased official zinc ingot price by 9,000 yen to 379,000 yen per tonne for domestic shipment in June. The price was revised down 4 times in a row due to weak zinc market at overseas and stronger foreign exchange rate of yen against US dollar. The price declined by around 20% from record 471,000 yen on May 12. The monthly averaged price became to 412,800 yen.Zinc spot price at London Metal Exchange decreased by US$ 75.5 to US$ 2,984.5 per tonne at settlement on Tuesday from the previous day. LME zinc settlement price became to below US$ 3,000 for the first time since April 10 impacted by weak LME copper price despite tight spot supply of zinc ingot.Telegraphic transfer selling rate was 115.77 yen per one US dollar on Wednesday, which became stronger by 0.87 yen from Tuesday. The rate is stronger by 0.49 yen from May 15 when Mitsui Mining & Smelting previously revised down zinc ingot price.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)