Japan Nonferrous Metal Import Slows, Export Expands in Feb.

Japanese nonferrous metals import represented year-on-year decline for almost all major items except anode copper in February, according to the trade statistics by Ministry of Finance. Japanese nonferrous metal smelters and consumers advanced to shrink material procurement with demand slowdown.

Import volume of primary aluminium ingot and aluminium alloy ingot hit the historically lowest level in February with stagnant demand from constructions and automobiles. Import volume also dropped by over 80% for aluminium scrap and aluminium alloy scrap.

Cathode copper import was lower than the recent bottom at 3,083 tonnes in August 2007. On the other hand, anode copper import slightly increased in February. Anode copper is consumed by copper smelters as substitutional material for copper ore. The demand kept stable.

According to the export statistics by Ministry of Finance, Japanese cathode copper export expanded by 1.6 times to 63,959 tonnes in February from a year earlier. The export represented year-on-year increase for 5 months in a row. In February, the export for China increased by 2.7 times to 48,333 tonnes.

Meanwhile, copper scrap export maintained year-on-year minus for 9 straight months. Copper scrap export for China decreased by 27.2% to 22,359 tonnes.

Aluminium scrap export doubled to 14,464 tonnes in February from a year ago. The export for China largely increased to approximately 10,000 tonnes.