Japan Cu Export Increases by 31.1% in August

Japanese cathode copper export increased by 31.1% to 44,132 tonnes in August from a year earlier, which showed year-on-year increase for 11 months in a row, announced by Ministry of Finance. The export to the largest destination of China increased by 23% to 19,153 tonnes. The export to Taiwan increased by 17.8 % to 10,135 tonnes, which exceeded 10,000 tonnes for 6 straight months.

The copper scrap export decreased by 14.5% to 29,120 tonnes in August from a year earlier, which showed year-on-year decrease for 4 months in a row. The export to China decreased by 13.5% to 26,358 tonnes. Chinese importers seem to lose appetite for the scrap after their speculative purchase while Chinese government continues strict inspection to check illegal dealers.

The aluminium scrap export increased by 26.9% to 9,005 tonnes in August from a year earlier. The export to China increased by 18.4% to 6,448 tonnes. The mix metal export was firm while low grade scrap export was at low level.

The export of electrolytic zinc with 99.99% or more purity increased to 7,221 tonnes in August from 839 tonnes in August 2008. However, the export decreased to less than 10,000 tonnes for the first time in 7 months. The export to China decreased by 30% to 4,312 tonnes in August from July while the export to Taiwan decreased by 41% to 2,319 tonnes. The zinc export seems to be decreasing while domestic galvanized steel sheet production is increasing since July.ium price declined.

Secondary alloy makers around Nagoya reduced the purchase price by 10 yen per kg for higher grade scrap and by 5 yen for lower grade scrap.