Japan Rare Metal Import Decreases in March

Japanese rare metal import volume decreased for 13 items including rare earths, indium and lithium in March from a year ago, most of which were used for electronics related applications, according to the trade statistics by Ministry of Finance. On the other hand, the unit price of imported rare metal increased for 14 items including rare earths, tantalum and lithium in March from a year earlier due to tighter supply.Japanese import of rare earths decreased by 1.9% to 759 tonnes in March from a year ago, while the unit price surged by 1,032 yen to 2,366 yen per kilogram. International price of rare earths is in uptrend when the demand is strong mainly for neodymium-iron-boron magnet and China, the world largest producer of rare earths, regulates its rare earth export to secure mineral resources for the domestic market.Japanese indium import decreased by 34.2% to 25 tonnes in March from a year ago, which is used for flat panel displays. The unit price also downed by 22.7% to 82,457 yen per kg. Indium demand slowed down when Japanese flat panel display market entered adjustment phase.Lithium import decreased by 8.6% to 1.066 tonnes while the unit price jumped up by 53.4% to 660 yen per kg in March from a year earlier. Lithium demand is increasing for lithium ion secondary batteries.