Japan’s output of copper and copper-alloy fabricated products grew for a third straight month in September as demand for exports rose, an industry group said.
Production, including sheets and tubes, rose 4.5 percent to 66,540 metric tons last month from a year earlier, the Japan Copper & Brass Association said today in a statement, citing preliminary data. Output was 58,529 tons in August, up 0.7 percent from a year ago.
Japan’s total exports slowed in September to the weakest pace in three months, underscoring the challenge for Prime Minister Shinzo Abe in spurring growth in the world’s third-biggest economy. Shipments increased 11.5 percent from a year earlier, compared with a 14.6 percent gain in August, a finance ministry report showed Oct. 21.
The industry’s production for exports rose 12 percent to 11,381 tons last month from a year earlier, expanding for a sixth month, the group said. Output for domestic consumption gained for the first time in 11 months, rising 3 percent to 55,159 tons, according to the association.
The country’s copper wire and cable shipments increased 3.8 percent to 59,900 tons in September from a year earlier, the Japanese Electric Wire and Cable Makers’ Association said on Oct. 18. Shipments totaled 54,696 tons in August, down 1.8 percent from a year earlier, data showed.
Copper for delivery in three months on the London Metal Exchange fell 0.8 percent to $7,275.25 ton at 11:53 a.m. in Tokyo, brining losses this year to 8 percent.