Japan Rare Metal Import Slow Down in July

Japanese rare metal import was slow in July. The import of rare earths decreased by 3.3% to 612 tonnes and the unit price downed by 16.3% to 3088 yen per kilogram in July from a year earlier, according to trade statistics by Ministry of Finance.The import volume of rare earths decreased when the domestic demand was stagnant from neodymium-iron-boron magnet makers. Japanese magnet makers minimized material procurement with expectation international market price such for metallic neodymium could continue declining.The import volume of strontium carbonate decreased by 15.5% year-on-year in July, which is used for ferrite magnets. The demand was also slow from ceramic capacitors. The import volume of potassium fluorotantalate decreased by 61.6%, which is an intermediate material for tantalum. Tantalum is also used for capacitors.In July, the import volume of rare metals totally declined, which are used especially for electronic applications. Cerium oxide decreased by 34.2% year-on-year, used as glass polishing agent for liquid crystal panels. Indium import increased by 7.1% in July, used for transparent electrode of liquid crystal panels, though the volume was relatively small.