High Profit for Japan Nonferrous Smelters, Light Metal Rerollers

Japanese nonferrous smelters posted higher sales and profit for the nine months ending December from same period of 2005. The higher price for copper and metals lifted their profit. Five of them revised the full year outlook upward to renew record profit for 2 consecutive years. Japanese major 4 light metal rerollers also posted higher sales and profit for the 9 months under firm demand.Nippon Mining Holdings, Mitsubishi Materials, Mitsui Mining & Smelting, Dowa Holdings and Toho Zinc revised the full year outlook upward after they posted higher results than expected. Sumitomo Metal Mining also posted more than double of recurring profit for April-December from same period of 2005 due to higher nickel price. Furukawa and Nittetsu Mining already revised the outlook upward when they announced the half year results. Nippon Light Metal posted double digit profit growth for the 9 months due to firm demand for automobile, appliances and electronics. Sumitomo Light Metal Industries also gained from firm demand for rolled aluminium and copper products. Kobe Steel’s copper and aluminium unit gained form firm demand for electronics copper sheet for automobile. Furukawa-Sky Aluminum also posted higher sales and profit.