Japan June Copper Product Output Down 29.6 pct y/y

TOKYO, July 24 -- Japan's output of rolled copper product fell to 56,775 tonnes in June on a seasonally adjust basis, down 29.6 percent from a year earlier, preliminary data showed on Friday.

    The figure represents a 17.6 percent increase from May, the Japan Copper and Brass Association said.

    Japan's demand for copper, used heavily by the power and construction industries, has plunged as the world's No.2 economy battles its worst economic downturn in half a century.

    Industry officials say there are signs the worst of the slump in demand may be over, but that the recovery is far from robust as much of the buying can be attributed to the need to restock depleted inventories.

    Reflecting weak demand, Japan's copper producers have reduced output by about 10 percent since the beginning of the year.

    (Source: Reuters)