Japan’s copper exports stood at 76,996 t in January 2023, a fall of 24% m-o-m as against 101,294 t in December 2022. The volume decreased by 13% from 88,267 t in January 2022 y-o-y.
Considering that the country’s manufacturing index was stable month on month (m-o-m) in January 2023 and that automobile sales had increased in the month under review, there was growing demand for copper in the domestic market. This in turn, reduced export volumes.
In addition, the exports fell due to Lunar New Year holidays and weakening of demand from China amid an economic slowdown.
Sub-commodity-wise exports-
- Semi-finished products: Exports fell by 10% m-o-m to 49,172 t in January 2023 from 54,689 t in the previous month.
- Scrap: Imports saw a decline of 45% m-o-m to 15,503 t in January 2023 compared to 27,966 t in December, 2022.
- Finished products: Export volumes went down drastically by 34% m-o-m to 12,321 t in January 2023 compared to 18,639 t in December 2022.
Country-wise exports-
- Exports to China down: Japan exported 24,626 t to China in the month under review, significantly down by 42% m-o-m compared to 42,807 t in December 2022. Similarly, shipments decreased by 23% compared to 32,045 t in the corresponding period last year y-o-y. China’s New Year holidays temporarily reduced its imports in the beginning of the year.
- Exports to Taiwan decrease: Exports to Taiwan fell by 21% m-o-m to 10,602 t in January 2023. The volume fell by 18% as against 12,865 t in January 2022 y-o-y.
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