Japanese industry is still middle of inventory adjustment of rare metals. The demand is still very slow for automobile industry while the demand for electronic materials recovered peak level in first half of 2008 for some applications after the demand hit bottom in January-March. Many Japanese users including appliance makers still have a lot of rare metals inventory reducing the purchase. The lower demand impacts on rare metals pricing.
Supply of rare earth magnet, which is used for motor of hybrid vehicle, appliances and machine tool, is still unstable when China represents more than 90% of the production. Japanese magnet makers tend to build rare earth inventory at higher level than the consumption for security reason. However, their capacity utilization dropped to around 15% in and after late 2008. The magnet operation is still around 50% of April-June 2008 level. The users still large inventory under the low level operation. Production of indium tin oxide target materials is firm when digital appliances parts demand is firm in China due to stimulus package to encourage the purchase in rural areas. Indium market price, however, is till low at less than US$ 350 per kilogram since February when Japanese target makers still consume the inventory without new purchase. Tantalum condenser demand could improve for cell phone. However, tantalum import was zero in March and April when the tantalum powder makers still have large inventory. The finished products demand started to recover for electronic materials. However, the materials of rare metals are still needed to adjust the inventory at the users.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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