Japan's exports of refined copper surged 40 percent in October from a year earlier to 50,305 tonnes, buoyed by a 50 percent jump in sales to China, data from the Ministry of Finance showed on Wednesday. Amid talk of a slowdown in the Chinese economy, demand for copper remains solid, although aggressive large-lot purchases have not been seen due to financial tightening, Japanese smelters have said.
Exports of cathodes to China surged 57 percent from a year earlier to 24,050 tonnes. Pan Pacific Copper, Japan's biggest copper smelter, kept its copper premiums for 2012 supply contracts for Asian customers unchanged from 2011, reflecting decent appetite for the industrial metal, a company source told Reuters last month. Demand for copper, found in almost every industrial product that uses electricity ranging from cars to computer chips, is seen as a gauge of economic activity. China, Taiwan and Indonesia are the key export markets for Japanese copper.
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