Wednesday, June 24, 2009

Japanese Copper Wire And Cable shipments Down Over 30%

Japanese copper wire and cable shipments amounted to an estimated 44,700 tonnes in May, down 31.4 percent from a year earlier and the lowest level since February 1975, an industry body said on Wednesday.

Shipments were down 14.7 percent from April, data provided by the Japanese Electric Wire and Cable Makers' Association showed.

Demand from the construction industry hit the lowest level in 26 years. Shipments fell 25.7 percent to an estimated 18,900 tonnes in May from a year earlier, the lowest level since May 1983, when shipments stood at 18,870 tonnes.

Demand for copper has fallen across all industrial sectors, including construction and automobiles, as Japan struggles to lift itself from its worst downturn in half a century.

The association's members account for about 60 percent of Japan's copper use.

Source: Reuters

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