Japanese Cathode Copper and Cu Scrap Export Down in May

Japanese cathode copper export halved to 21,984 tonnes in May from a year earlier, according to the trade statistics by Ministry of Finance. Two major copper smelters were impacted by Japan Earthquake and Japanese cathode copper supply capacity decreased. Thus the export signficantly decreased in April and May. The export to largest Japanese cathode copper consuming country of China dropped by around 60% to 8,645 tonnes.

Copper scrap export decreased by 4.7% to 19,494 tonnes in May from a year earlier and represented below 20,000 tonnes for the first time since June 2010. Scrap generation decreased in Japan when domestic manufacturing was impacted by the disaster. Meanwhile, the export seemed to decease due to the radiation problem.

On the other hand, aluminium scrap export increased by 34% to 9,180 tonnes in May from a year earlier. The export to South Korea expanded to 5.3 times to record 3,230 tonnes. Japanese secondary aluminium alloy makers have reduced or stopped aluminium scrap procurement after Japan Earthquake. Then scrap dealers increased the sales to South Korea where the demand was strong and the market price was high. Various scrap items seemed to be exported such as used beverage can scrap and sash scrap.