Japan Cu Scrap Export Rises by 26% in March

Japanese copper scrap export increased by 26% to 35,946 tonnes in March from a year earlier, according to Ministry of Finance. The volume was the highest level since April 2009. The export unit price was 257 yen per kilogram, which was the highest level since July 2011.

The export increased by 27% to 26,033 tonnes in March from a yea earlier. The volume was the highest level since the record in April 2009.

Japanese copper scrap export was 9-year low at 13,489 tonnes in January due to earlier Chinese New Year hoilday. The volume increased to 26,470 tonnes in February. A part of the higher export volume apparently contributed to the higher March export.

Lower yen rate also lifted the export in March when telegraphic transfer selling rate was averaged 83.46 yen per US dollar compared with 79.40 yen in February. Offshore copper ingot price was averaged SU$ 8,457 per tonne at London Metal Exchange in March, which was the heist level since August 2011.

The export unit price was 16 yen per kg lower in March than a year earlier level but the price was 17 yen higher than February level. The higher price was partly due to high grade scrap export.