Japan Copper Scrap Export Hits Lowest in 8 Years

Japanese copper scrap export decreased by 40% to 15,212 tonnes in February from a year earlier, which recorded the lowest level since 10,814 tonnes in February 2002, according to Ministry of Finance. The import volume decreased due to the demurrage under the bad weather in China and low scrap generation in Japan. On the other hand, the averaged export price has doubled to 268 yen per kilogram in February from a year earlier, which was as same as the level before the economy recession.

Japanese copper scrap export has been increasing from the bottom in January 2009 due to the demand increase in China and the export was 50,967 tonnes in April 2009, which represented the historical high. The export was around 30,000 tonnes per month after April through January 2010. The export decreased significantly in February 2010 from the previous month due to the demurrage and the increase in inventory in China, according to one Japanese major exporter source.