Japan Export Electrolytic Copper Up, Copper Scrap Down in 2006

Japanese export of electrolytic copper (cathode copper) increased by 31.6% to 286,935 tonnes in 2006 from 2005, which increased for China by 46% to 133,345 tonnes, announced by Ministry of Finance on Wednesday. The copper scrap export decreased by 2.9% to 411,736 tonnes, which decreased for China by 3.2% to 372,842 tonnes.Copper ingot price kept sharp increasing toward May 2006, when copper settlement price at London Metal Exchange hit record US$ 8,788 per tonne. Chinese copper users seemed to decrease purchasing volume of electrolytic copper ingot and to use more copper scrap which is cheaper than primary ingot. After June 2006 electrolytic copper ingot price declined and Japanese copper scrap export for China decreased.Japanese copper scrap export also decreased by 6% to 12,428 tonnes for South Korea. Japanese copper rolled products makers raised their purchasing prices for brass turning scrap and scrap outflow for South Korea slowed down.