Higher Japan Rare Metals Import Prices

Japanese rare metals averaged import prices increased for 17 items out of 22 items in October from a year earlier, according to Ministry of Finance. The titanium import price increased by 88% under tight supply. The import volume of 14 items increased. The rare earth import increased by 20.9% to 717 tonnes in October from a year earlier. The demand for neodymium and dysprosium as materials for rare earth magnet, which is used for wider applications including hard disc driver and automobile. Misch metal demand also increases for metallic alloys for hydrogen storage, which is used for cathode material of nickel metal hydride battery. The metal import price increased to averaged 2,115 yen per kilogram, which was 90% higher than 1,092 yen in October 2005, when the world largest producing country of China reduces export. The tantalum import increased to 2.9 times at 121 tonnes in October from a year earlier. The import price increased by 13.7% to 14,426 yen per kg when the demand is firm for tantalum condenser, which is used for electronics devices. The lithium import increased by 46.7% to 1,319 tonnes and the import price increased by 56.9% due to higher demand for secondary battery. The tungsten import increased by 71.7% and the import price increased by 12.7% in October from a year earlier under strong demand for cemented carbide tool. The titanium import decreased by 20% when the worldwide supply is very tight while the import price increased by 88.4% to 2,308 yen per kg.