Japan Copper Export for China Slows Down in July

Japanese cathode copper export represented year-to-year increase for 10 months in a row. The export increased by 67% to 40,599 tonnes in July from a year earlier, according to Ministry of Finance. The export for Taiwan was 14,254 tonnes in July, which doubled from a year earlier and kept above 10,000 tonnes for 5 straight months. On the other hand, the export for China was 17,497 tonnes, minus by 45% from a month earlier and by 31.2% from a year earlier.

Taiwanese importers seemed to procure cathode copper for Chinese market. However, in China, actual demand and speculative procurement for cathode copper seems to be declining.

Japanese copper scrap export for China deceased by 38.1% to 22,573 tonnes in July from a year earlier. The total export was 24,797 tonnes, which decreased by 38.1% from a year earlier and represented year-to-year minus for 3 months in a row. On the other hand, aluminium scrap export increased by 19.1% to 10,301 tonnes in July from a year earlier, that for China increased by year-to-year 14.4% and by month-to-month 23.3% to 7,978 tonnes.

Japanese export of electrolytic zinc of more than 99.99% purity kept above 10,000 tonnes for 6 straight months. Domestic demand maintains very low mainly from zinc coated steel sheets. Surplus zinc seemed to flow out for China and Taiwan.