- Zinc output falls 38% y-o-y to 17,898 t
- Electrolytic copper production declines for third consecutive month
Japan Metal Daily: Japan’s base metal production declined in July compared with the same month last year, with electrolytic copper, zinc and electrolytic lead output all recording y-o-y decreases, according to production statistics compiled by the Ministry of Economy, Trade and Industry. Zinc production fell below 20,000 t for the first time on a monthly basis in nearly 30 years, highlighting the sharp contraction in domestic output.
Electrolytic copper production stood at 116,828 t in July, down 10.5% y-o-y and marking the third consecutive month of decline. Shipments fell 8.5% y-o-y to 115,774 t, extending their decline to four consecutive months amid lower exports and other factors.
Zinc production recorded the sharpest decline among the base metals, falling 38.1% y-o-y to 17,898 t. This marked the second consecutive month of decline and the first time since fiscal 1996 that monthly zinc output fell below 20,000 t.
The July production level was also below the previous low of 27,715 t recorded in April 2011 during the period under comparison. Zinc shipments declined 6.4% y-o-y to 32,176 t, extending the downturn to ten consecutive months.
Month-end zinc inventories fell to 13,835 t, down 14,235 t from the previous month. This was the lowest inventory level since April 2011, when stocks stood at 11,520 t.
Electrolytic lead production declined 6.1% y-o-y to 14,846 t, marking the fifth consecutive month of contraction. However, shipments increased 2.2% y-o-y to 16,127 t, recording a second consecutive monthly increase.
Meanwhile, precious metal production also declined in July. Electrolytic gold output fell 13% y-o-y to 5,146,847 grams, while electrolytic silver production dropped 21.7% y-o-y to 92,551 kg.
Note: This article has been written in accordance with a content exchange agreement between Japan Metal Daily and BigMint.
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