Japan: Electrolytic copper, zinc and lead production rise y-o-y in H1CY'24

• H1CY'24 copper production hits six-year high, June shipments fall 6.6%
  
  
• Shipments fall due to weakened domestic demand, slowdown in exports
  
  

In the first half of calendar year 2024 (H1CY'24), the production of electrolytic copper, zinc, and electrolytic lead was higher compared to H1CY'23, according to the Ministry of Economy, Trade, and Industry.

In H1CY'24, electrolytic copper production exceeded 800,000 tonnes (t), reaching its highest level in six years. This marks a significant increase since H1CY'18, when it was the highest ever recorded for that period.

Zinc sales also improved, surpassing the same period last year for the first time in three years. This rebound is partly due to higher sales following extensive repairs at some smelters last year, although sales for galvanised steel sheets have not yet fully recovered.

Electrolytic copper, zinc production surge in H1CY'24

Electrolytic copper production rose by 3.7% y-o-y to 802,474 t, while shipments went up by 1.9% y-o-y to 738,904 t. This marks the third year in a row that both production and shipment volumes have increased compared to the previous year.

Monthly production remained strong at over 130,000 t, though it didn't exceed the 808,068 t seen in the H1CY'18. Nevertheless, it was close to that record high. Shipments grew y-o-y, driven by robust export activity in the first half of the year.

Zinc production grew by 6.6% y-o-y to 261,411 t, with shipments rising by 2% y-o-y to 246,695 t. This was the first time in three years that both production and shipments have increased.

Electrolytic lead production went up by 17.5% y-o-y to 97,040 t, marking its first increase in three years. However, shipments fell by 0.5% y-o-y to 90,175 t, the first decline in two years.

Mixed trends in June

In June, electrolytic copper production rose by 5.4% y-o-y to reach 133,650 t, marking the fifth month in a row of production growth. However, shipments for the same month fell by 6.6% y-o-y to 119,964 t, reversing a six-month trend of increasing shipments. The decrease in shipments was attributed to weakened domestic demand and a slowdown in export activity.

In June, zinc production fell by 4.9% y-o-y to 42,307 t, marking its first decrease in five months. Shipments also dropped by 11% y-o-y to 39,148 t, representing the second consecutive month of decline.

Conversely, electrolytic lead production rose by 15.9% y-o-y to 15,950 t, showing positive growth for the third month in a row. However, shipments of electrolytic lead decreased by 4% y-o-y to 15,707 t, the first decline in three months.

This article has been published under an agreement between BigMint and Japan Metal Daily.