Japanese Rare Metal Import Strongly Recovers in May

Japanese rare metal import represented high volumes in May, according to Ministry of Finance. Indium and rare earths hit the yearly highest import volume. Indium is actively consumed by Japanese ITO (indium-tin-oxide) target makers and low-melting-point alloy makers. Rare earths are used for permanent magnets of motors and hydrogen storage alloy applied inside hybrid cars.

Indium import expanded by 3.3 times to 42.9 tonnes in May from a year earlier. The volume exceeded the yearly record of 42.7 tonnes in April and hit the highest since May 2007. Japanese sputtering target material makers including Nippon Mining & Metals and Mitsui Mining & Smelting keep stable material procurement when sales of liquid crystal panel television maintain active in China.

Rare earths import expanded by 4.7 times to 801 tonnes. The volume hit the highest since November 2009. Permanent magnet demand is increasing for motors applied to cars, home appliances and tooling machines along global economic recovery. The demand is also increasing for hydrogen storage alloy when hybrid car production is growing up.

Antimony import jumped by 8 times year-on-year based fo frame retardant for plastics. Tantalum (potassium fluorotantalate) import increased by 7 times, mainly used for capacitors. The import volume doubled for lithium and cobalt, mainly used for positive electrode of lithium ion batteries.

Molybdenum concentrate import represented more than twice from a year earlier and approached the ordinary volume before Lehman Shock. Inventory adjustment almost completed by the end of March 2010 at domestic molybdenum consumers, mainly steel makers.