Japan Official Zinc Price Continues to Decrease

Mitsui Mining & Smelting announced on Monday the firm revised down official zinc ingot price by 17,000 yen to 409,000 yen per tonne for domestic shipment in May. The price decreased again after the previous down revision on May 17 and became to the level as cheap as April 14. The monthly averaged price decreased by 7,600 yen to 427,700 yen.Zinc spot price at London Metal Exchange continued to decline by US$ 170 to US$ 3,325 per tonne at settlement on Friday from the previous day. The price dropped by 17% from record US$ 3,990 on May 11. Speculative selling is now strong in the market after speculative funds pushed up whole non-ferrous metals markets.