Japan Official Pb and Zn Prices Surge Up

Mitsubishi Materials announced on Monday the firm raised its lead ingot selling price by 12,000 yen to yearly record 210,000 yen per tonne for domestic shipment in June. The monthly average would be 207,300 yen without any more revision within June. Mitsui Mining & Smelting raised its zinc ingot selling price on Monday by 10,000 yen to 195,000 yen per tonne for domestic shipment in June, which is as high as the yearly record marked in May. The monthly average would be 192,700 yen without any more revision within June.

Offshore indicators strongly surged on Friday. Lead settlement price at London Metal Exchange (LME) increased by US$ 89 to US$ 1,654.5 per tonne from the previous trading day, which reached the level as high as October 2008. LME zinc settlement rose by US$ 50.5 to 1,555.5 per tonne.

At the same time, Japanese yen exchange rate sharply weakened against US dollar on Monday. The telegraphic transfer selling rate was 99.61 yen per US dollar, the cheapest level in a month.