Japan Rare Metal Import Shows Y/Y Plus for Several Items in August

Japanese rare metal import represented year-to-year plus for several items in August, according to the trade statistics by Ministry of Finance. The import volume increased for 5 items of the statistics that are rare earths, lithium carbonate, bismuth, antimony and strontium carbonate. The other 14 items continued to represent wide-range year-to-year minus. However, some of rare metal consumers are resuming material procurement. Domestic demand for rare metals shows a sign to rebound.

Import of rare earths was 393 tonnes in August, which represented year-to-year plus for the first time since December 2007. The import keeps above 300 tonnes in and after June 2009 thanks to the demand recovery from automobiles and digital appliances, though which dropped to 56 tonnes in February 2009. Meanwhile, the import volume is still lower by 25% than the monthly average of 2008.

Bismuth import increased by 94% in August from a year earlier, used for low melting point alloys. Some consumers seemed to restart bismuth procurement after completion of inventory adjustment. Lithium carbonate import increased by 37%, used for lithium ion battery, and strontium carbonate import increased by 58%, used for ferrite magnet. Antimony import increased by 22%, used as flame retardant.

Indium import represented 50% year-to-year minus. ITO (indium-tin-oxide) target material makers are in full production but they didn’t increase material procurement so much yet. Molybdenum concentrate import stayed a half compared with a year earlier due to inventory adjustment by steel makers. Tungstate import showed 72% decline, used for cemented carbide tools.