Japan Copper and Cable Shipments Advance for First Time in 6 Months

Japan's copper wire and cable shipments climbed 2.1% in May 2013 from a year earlier increasing for the first time in 6 months on a pick up in deliveries to construction companies.

The Japanese Electric Wire & Cable Makers' Association said that an industry group said that shipments totaled 54,200 tonnes last month compared with 53,067 tonnes a year earlier. Deliveries were 54,945 tonnes in April down 1.9% from a year earlier.

A Finance Ministry report showed that Japan's total exports rose more than forecast in May as Prime Minister Mr Shinzo Abe's stimulus, dubbed as Abenomics weakened the yen against the dollar. At the same time, the nation's trade balance fell for the 11th straight month as the weaker yen boosted the costs of imports.

Mr Keiichi Ohki an official at the association's research department said that "Shipments to the construction industry gave a boost. Still, demand from automakers and the electric-machinery industry remained subdued as the weaker yen raised the cost of electricity."

The association said that copper cable shipments to the construction industry climbed 9.5% in May from a year earlier, while those to automakers fell 9% and deliveries to the electric machinery industry declined 5.1%.


source from wire world