Cu Rolled Production to Hit 26-Year Low in F2008

Japanese production of rolled copper products could decrease to around 800,000 tonnes for fiscal 2008 ending March. The production decreased by 15.3% to 772,597 tonnes for 11 months through February, according to Japan Copper and Brass Association. When the output in March is as same as in February, the production becomes the lowest level for fiscal 2008 since 801,424 tonnes in fiscal 1982 while the association expected 977,000 tonnes for fiscal 2008 as of November 2008.

A rolled copper maker source estimated the production in March would not increase from February when the users reduce the procurement for better profitability in the timing to close the fiscal year to March.

If the output decreased in March as low as in February, the output would be around 36,000 tonnes and the production for fiscal 2008 is around 809,000 tonnes. When the March production is lower than the level in February, the production could be less than 800,000 tonnes for the first time since fiscal 1977.