Japan Cathode Cu Export Increases by 39% in October

Japanese cathode copper export increased by 39% to 46,384 tonnes in October from a year earlier, according to Ministry of Finance. The export for China increased by 57% to 24,050 tonnes due to higher copper price at Shanghai Futures Exchange compared with the price at London Metal Exchange. Japanese copper smelters increased the export when the domestic demand slowed down.

The copper scrap export decreased by 38% to 14,786 tonnes in October from a year earlier. The export hit the lowest monthly volume since February 2003. Chinese users reduced the purchase volume due to lower offshore copper market price in late September.

The aluminium scrap export decreased by 21% to 7,375 tonnes in October from a year earlier. The export for South Korea decreased by 40% to 851 tonnes from September while the export was high level since June. The export for China also decreased. The offshore demand was weak due to higher Japanese market price compared with the price at offshore market.