Japan Rare Metal Import Decreases in September

Japanese rare metal import volume decreased for 13 items including rare earths and bismuth in September from a year earlier, according to the trade statistics by Ministry of Finance. The averaged unit price of imported rare metals surged up for 13 items such as rare earths, bismuth and cobalt in September from a year earlier while downed for titanium and indium.Rare earth import decreased by 2.2% in September from a year ago. The import volume stayed at less than 700 tonnes per month since July 2007 while hit near 1,000 tonnes in May 2007. Rare earth demand maintains increasing mainly for neodymium-iron-boron magnet but the growth rate seemed to become slower. The import is also impacted by the export regulation by China, the world largest producer of rare metals. Under the tight supply, the averaged unit price of imported rare earths was higher by 64% at 3,449 yen per kilogram in September from a year earlier. Bismuth import almost halved in September from a year earlier while the averaged unit price jumped up by 4 times to 4,152 yen per kg. Domestic bismuth users seemed to decrease their purchasing volume with the higher price. Indium import decreased by 8.8% and the averaged unit price also downed in September from a year earlier. Domestic users are using their indium stocks. Another background is that recycled indium became to be used more than before in Japan. Global titanium supply is being easier when titanium makers are increasing their output capacities mainly in China. Global titanium demand keeps strong. Japanese import increased by 60% while the averaged unit price downed by 5% in September from a year earlier.