Japan’s output of copper and copper-alloy fabricated products climbed 1.6 percent in July from a year earlier, gaining for the first time in nine months as demand for exports increased, an industry group said.
Production, including sheets and tubes, was 69,670 metric tons last month, compared with 68,572 tons a year ago, the Japan Copper & Brass Association said today, citing preliminary data. Output fell 3.7 percent to 66,359 tons in June.
Japan’s overall exports jumped by the most since 2010 in July, aiding Prime Minister Shinzo Abe’s efforts to drive an economic recovery even as rising energy costs boosted the trade deficit. The stronger exports show Japan’s economy is benefiting from a recovery in demand in Europe and the U.S., and the yen’s 11 percent decline against the dollar this year.
Domestic demand continued declining last month, falling 1.3 percent to 56,864 tons from a year earlier, while export demand jumped 16.9 percent to 12,806 tons, the highest level since May 2011, the industry group said.
Copper wire and cable shipments climbed 3.8 percent to 61,800 tons in July from a year earlier, the highest level since November as demand from the construction and electric-machinery industries gained, the Japanese Electric Wire & Cable Makers’ Association said on Aug. 20. Deliveries were 54,087 tons in June, down 5.6 percent from a year earlier.
The metal for delivery in three months on the London Metal Exchange rose 0.2 percent to $7,327 a ton at 11:15 a.m. in Tokyo and has lost 7.6 percent this year.
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