Factbox: Japan's copper output forecast to rise 6 pct in H1 amid solid demand
06/04/2018 11:03
By Yuka Obayashi
TOKYO, April 6 (Reuters) - Japan's copper output in the
first half of the 2018/19 financial year to March 31 is forecast
to rise 6 percent from the year before, Reuters calculations
from plans outlined by smelters showed, amid solid demand for
semiconductors and auto parts.
Higher production from Japan, the world's third-biggest
smelter, comes after copper prices CMCU3 logged a 7 percent
loss in the first quarter, the biggest decline since the fourth
quarter of 2015, amid worries about a trade war between the
United States and China
Prices climbed more than 30 percent last year on the back of
signs of strong Chinese economic growth.
Copper, used in power and construction, traded at $6,765.50
a tonne on Friday. MET/L
Top-ranked Pan Pacific Copper (PPC), along with its rivals,
said local appetite for copper products have been strong, driven
by solid demand for semiconductors and auto parts.
PPC, jointly owned by a unit of JXTG Holdings Inc 5020.T
and Mitsui Mining and Smelting Co Ltd 5706.T , plans to raise
its April to September output of refined copper by 15 percent
from the same period last year to 300,000 tonnes, the highest in
a decade.
The processing capacity at its Saganoseki plant in western
Japan has expanded thanks to some reinforcement works during the
maintenance period last year, a company spokesman said.
"The increase is also due to slower production last year
because of large-scale maintenance at Saganoseki," he said,
pointing to the maintenance between September and December.
Sumitomo Metal Mining Co Ltd 5713.T , Japan's
second-largest copper smelter, and third-ranked Mitsubishi
Materials Corp 5711.T also expect an increase for April to
September as the smelters have no maintenance plans.
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Below are the production plans of base metals for April to
September from PPC, Sumitomo Metal, Mitsubishi Materials, Dowa
Holdings Co 5714.T , Furukawa Co Ltd 5715.T , Mitsui Mining,
Nittetsu Mining Co Ltd 1515.T and Toho Zinc Co Ltd 5707.T ,
with comparisons against planned or estimated production in the
second half of the 2017/18 financial year and actual production
in the first half of 2017/18.
H1 2018/19 H2 2017/18 H1 2017/18 (pct)
COPPER
Pan Pacific 300,000 267,500 261,000 14.9
Sumitomo 227,700 208,500 223,800 1.7
Mitsubishi 187,374 181,830 175,134 7.0
Furukawa 42,006 42,508 45,564 -7.8
Dowa 33,189 34,462 38,677 -14.2
Nittetsu 24,776 23,255 23,792 4.1
Total 815,045 758,055 767,967 6.1
ZINC
Mitsui 105,900 110,900 105,900
Dowa 86,634 94,337 81,397 6.4
Toho Zinc 49,450 54,872 43,569 13.5
Total 241,984 260,109 230,866 4.8
LEAD
Toho Zinc 49,500 42,608 50,079 -1.2
Mitsui 31,300 33,600 33,200 -5.7
Mitsubishi 13,728 13,380 13,968 -1.7
Dowa 4,695 4,850 4,136 13.5
Total 99,223 94,438 101,383 -2.1
NICKEL
Sumitomo 31,900 30,200 31,000 2.9
FERRO-NICKEL
Sumitomo 6,300 6,700 6,300
* Note: In tonnes
(Reporting by Yuka Obayashi; Editing by Christian Schmollinger)
((Yuka.Obayashi@thomsonreuters.com; +813-6441-1798; Reuters
Messaging: yuka.obayashi.thomsonreuters.com@reuters.net))