Mitsui Mining & Smelting announced on Wednesday the firm raised its zinc ingot selling price, the market indicator, by 5,000 yen to 185,000 yen per tonne for domestic shipment in April. The price hit the yearly highest to reflect upsurge of offshore zinc market. The monthly average would become 180,500 yen without any more revision within April.
Zinc settlement at London Metal Exchange (LME) was US$ 1,401.5 per tonne on 14 April, which exceeded US$ 1,400 for the first time since October 2008 and became higher than US$ 1,341 on 6 April along which Mitsui Mining & Smelting previously set its ingot selling price. LME zinc price was strong after Easter holidays to follow price surge at Shanghai Futures Exchange during the holidays. Telegraphic transfer selling rate was 99.84 yen per US dollar on Wednesday, stronger by 1.76 yen compared with the previous price revision day. Consequently Mitsui Mining & Smelting raised the price only by 5,000 yen.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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