Japan’s Copper Supply Set for 5.5% Increase in Second Half of Fiscal 2025

Japan's refined copper production is expected to increase by 5.5% in the second half of fiscal 2025 compared to the same period a year earlier, according to Reuters calculations based on smelter plans. This increase is primarily attributed to reduced maintenance activities and solid demand. The financial second half covers the period from October to March.

Pan Pacific Copper (PPC), Japan's largest copper supplier, anticipates higher supply in the second half of fiscal 2025 following a decline last year due to scheduled renovation work at the Hitachi Refinery in eastern Japan. PPC, a joint venture of JX Advanced Metals, Mitsui Mining and Smelting, and Marubeni, relies on its parent companies' facilities for smelting and refining operations. It procures raw materials and markets the refined copper. The company expects continued strong demand from the local electronics parts and construction sectors.

Sumitomo Metal Mining (SMM) also expects a 21% increase in output in the second half, following a maintenance shutdown at its Toyo Smelter & Refinery between September and November of the previous year.

The Japan Copper and Brass Association projected a 5.9% rise in domestic demand for copper products in fiscal 2025, driven by an anticipated recovery in the automobile and semiconductor industries. This recovery is expected to boost demand for copper plates, strips, tubes, and brass bars. Additionally, the Japan Electric Wire & Cable Makers' Association (JCMA) forecasts a 2% growth in domestic copper wire shipments, supported by a resurgence in the semiconductor industry and robust export demand.