Worse Sales and Profits among Copper Product Dealers in January

Sales and profits index became worse among copper alloy product dealers around Tokyo in January 2007 compared with December 2006, according to the survey by Tokyo Copper Alloy Products Distributors Association for approximately 180 members of the Association. These indexes are the remainders of the dealers’ ratio those who posted year-to-year sales/profits increase minus the dealers’ ratio those who posted year-to-year sales/profits decrease. The sales index was plus 31 points in January 2007, down by 13 points from December 2006. The profit index was plus 16 points in January 2007, down by 36 points from December 2006. The sales index became lowest since December 2005 and the profit index worst since January 2006. Sales volume declined in January 2007 when copper price weakened and copper product users tried to procure the products only by small lots. Copper product dealers held expensive inventories and their profitability became worse. Less trading days in January also impacted the dealers’ profitability.