Japanese copper scrap export represented year-on-year decrease for 7 straight months along economy recession. The export dropped by 35.3% to 22,983 tonnes in December from a year earlier, 21,003 tonnes of which were bound for China decreasing by 34% year-on-year, according to the trade statistics by Ministry of Finance. On the other hand, cathode copper export expanded by 51.6% to 41,995 tonnes, which for China jumped up by 2.3 times to 32,410 tonnes. Chinese importers increased electrolytic copper purchase when copper price was cheaper at London Metal Exchange than at Shanghai Futures Exchange.
Japanese aluminium scrap export also represented year-on-year decline for 7 straight months. The export dropped by 38.4% to 6,094 tonnes in December from a year earlier, 4,421 tonnes of which were for China decreasing by 42.8%. The demand sharply shrank along economy downturn. Meanwhile, electrolytic lead export more than doubled to 3,620 tonnes in December from a year earlier. The demand was weak from Japanese battery makers and the surplus inventory was actively exported.Japan Steel Scrap Composite Prices (Sangyo Press)
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