Japan Cu Concentrate Import Decreases by 18% in 2011

Japanese annual import of copper concentrate decreased by 18% to 4.39 million tonnes of concentrate weight in 2011 from 2010, according to the trade statistics announced by Ministry of Finance on Monday. The figure showed the lowest volume since 2005. The import decreased since Onahama smelter in Fukushima, which is jointly operated by Mitsubishi Materials and other Japanese smelters, was temporarily downed by the Japan Earthquake or Sumitomo Metal Mining implemented two-month furnace repairing at Toyo smelter in Ehime during September-November.

Japanese electrolytic copper production reached approximately 1.7 million tonnes in 2007. Concentrate import hit the lowest volume since 2007. Another factor was that Pan Pacific Copper, Japanese largest copper smelting company, continued output reduction due to low-profit ore cost.

Copper concentrate import from Indonesia dropped by 69% to 362,971 tonnes. The main reason was that Onahama smelter skipped concentrate procurement by June after the mega earthquake. The import from Peru decreased by 18% to 635,817 tonnes due to stoppage of Onahama smelter and long-term furnace repairing at Sumitomo Metal Mining’s Toyo smelter. Sumitomo Metal Mining has controlling shares in Cerro Verde copper mine of Peru.

Meanwhile, copper concentrate import from Canada increased by 10% to 387,762 tonnes. Copper Mountain mine started commercial operation, in which Mitsubishi Materials holds equities. Import also increased from Gibraltar copper mine in which Sojitz, Furukawa and DOWA Metals & Mining hold shares.

Concentrate import from Chile decreased by 1% to 2.08 million tonnes.