Japan Copper Scrap Export Hits 11-Month Low

Japanese copper scrap export decreased by 4.7% to 19,494 tonnes in May from a year earlier, which decreased to less than 20,000 tonnes for the first time in 11 months, according to Ministry of Finance. The exporters were cautious about the export shipment when Chinese users rejected the scrap acceptance due to high radiation while the scrap generation decreased after the major earth quake.

The copper export decreased by 33% in May from 28,993 tonnes in April. The scrap supply slowed after the quake and Chinese users rejected the acceptance of mixed scrap from some bulk carriers with strict radiation check. Japanese major scrap exporter source said the exporter could ship the scrap after fully checked the radiation level.

The major exporter source sees the export would increase in June from May when the exporters in damaged area by the quake resumed the shipment. However, the export could not return to the level before April due to low scrap generation and high radiation level.