Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Japan’s seasonally adjusted production index increased by 2.2pc to 97.7 as the shipments index grew by 0.8pc to 95.2 in March 2021 compared to the preceding month, according to the Ministry of Economy, Trade, and Industry (METI). Inventories increased by 0.1pc to 94.5 with the inventory rate index declining by 0.8pc to 108.9 in March against February levels.


Production rose in March due to rises in the automotive industry, although the commercial machinery and production machinery industries softened their growth.


Manufacturing Industry Production Forecast Index is anticipated to increase by 8.4pc in April 2021 compared to March levels but to decrease by 4.3pc against the May 2021 forecast. The March 2021 forecast was 9pc growth in production index against February levels. 


Consumption of pig iron scrap for blast furnaces in February was 25,078mt and 35,575mt for electric arc furnaces (EAF), plus 4,739 for others in March. Melting steel scrap consumption in March was 711,484mt for blast furnaces and 1.9mn mt for EAFs for a total of 2.6mn mt. Of the total melting scrap, 93pc was carbon steel and the remaining 7pc alloy steel scrap. 


For non-ferrous, Japan produced 134,121mt of blister copper, 113,468mt of electrolytic copper, 14,166mt of lead bullion, 14,027mt of electrolytic lead, and 41,748mt of zinc in February 2021.


Aluminum production in February was 3,268mt alloy ingots, 12,203mt of secondary aluminum ingots, 108,072mt of secondary aluminum alloy ingots, and 893,366mt of aluminum powder


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