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May 23rd, 2009
- Market Stats
Tokyo ,Japan - April copper cable shipments down 26.3 percent yr/yr
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Japanese copper wire and cable shipments fell 26.3 percent in April from a year earlier to an estimated 52,200 tonnes, an industry body said on Thursday. That was also down 18.8 percent from 53,198 tonnes in March, data provided by the Japanese Electric Wire and Cable Makers' Association showed. Japan's consumption of copper, which has wide industrial applications in the power, electronics and auto industries, has plunged as the world's second-largest economy grapples with its worst downturn in half a century. Exports to China, however, have been on the rise in recent months.
The association, whose members account for about 60 percent of Japan's copper use, said in March that it expected Japan's demand for copper wire and cables to sink to its lowest in 34 years during the current business year, as demand crumbled.
Toyota Motor Corp, the world's biggest automaker, said this month it would sell about 1 million fewer vehicles this year as the global crisis batters demand for cars.
Until the economic downtrend from the fourth quarter of last year, the auto industry was one of the few sectors in the world's No. 4 copper consumer to show consumption growth.
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