Mitsui Mining & Smelting announced on Monday the firm decreased official zinc ingot price by 13,000 yen to 433,000 yen per tonne for domestic shipment in June. The price declined to the lowest level in 2 weeks due to the weak zinc market at overseas despite the foreign exchange rate of yen contemporarily weaker against US dollar. The monthly averaged price became to 440,600 yen.Zinc spot price at London Metal Exchange (LME) decreased by US$ 90 to US$ 3,454 per tonne at settlement on Friday from the previous day. The price declined following wholly weak markets of non-ferrous metals, though zinc inventory held by LME was decreasing and zinc spot supply maintained tight.The telegraphic transfer selling rate was 115.29 yen per one US dollar on Monday, which became cheaper by 1.12 yen from the previous price revision on June 7. However, LME zinc spot price plunged by 13% from US$ 3,950 of latest high on May 30 and Mitsui Mining & Smelting revised down the official zinc price again.
Japan Steel Scrap Composite Prices (Sangyo Press)02/02/2023
|50400YEN (-)||51700YEN (-)|
|389.19US$ (4.16)||399.23US$ (4.27)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)