Japan Anode and Scrap Cu Import Increases in May

Japanese import of cathode copper decreased by 4.1% to 11,427 tonnes in May from a year earlier while the import of anode copper for electrolytic refining and copper based scrap increased year-on-year, according to the trade statistics by Ministry of Finance. Anode copper and copper scrap increased when Japanese copper smelters increased the consumption of materials other than copper ore due to the ore grade down.The import of aluminium related products increased year-on-year in May except for aluminium alloy ingot. The import of aluminium alloy ingot represented year-on-year down for the first time since September 2007 impacted by the slow down of North American automobile market.The import of lead ingot increased by 86% year-on-year in May. Japanese smelters are facing difficulty in lead scrap procurement and increasing lead ingot import. The import of zinc ingot (more than 99.99% purity) decreased by 48% year-on-year in May. The averaged unit price of imported zinc ingot upped by 12 yen per kilogram in May from April. On the other hand, cheaper ingot also arrived from Namibia and Canada at less than 250 yen per kg.The import of tin ingot increased by 39% even though the market price hit the record high under the global supply tightness. The import of nickel ingot decreased by 13% with slow demand in Japan.