TOKYO: Japan's refined copper exports plunged 52 percent in May from a year earlier to 23,764 tonnes for an eighth straight month of year-on-year declines, Ministry of Finance data showed on Wednesday, reflecting slowing demand from China, the world's top copper consumer.
But exports inched up 0.8 percent from April, with China's share also improving to 36 percent in May from 29 percent in April. China accounted for 48.5 percent of Japanese refined copper exports in March.
China's imports of refined copper fell 6.9 percent in May to a 30-month low after falling 16.6 percent in April on ample domestic stocks and a slowdown in demand.
Taiwan accounted for 32 percent of Japan's exports in May, steady from April.
Indonesia and Thailand are also key markets for Japan's copper.
Demand for copper, used in utensils, construction materials and computer chips, is often seen as a gauge of economic activity.
As Japanese manufacturers began recovering from production disruptions after the massive March 11 earthquake, Japan's output of rolled copper products rose 2.4 percent in May from April, helped by strong demand for environmentally friendly air conditioners, which offset weakness in chips and cars.
Cable copper wire and cable shipments in May also inched up from a year earlier.
Copyright Reuters, 2011
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