Related article →
(Overview)
Significant increase from the previous month. Exports to China more than doubled. Shipments to India also increased.
Exchange Rate Trends (TTS - 3 months)
(Detailed Analysis)
■ In terms of volume, April saw a large increase for the second consecutive month, reaching 981 tons, which is 136% month-over-month (m/m), and 77% year-over-year (y/y). The cumulative total for January to April was 4,049 tons, 95% y/y.
• To Malaysia: 0 tons for two consecutive months, m/m –%, y/y 0%, cumulative total for Jan–Apr: 312 tons, 10% y/y.
• To India: Increased for the second consecutive month to 393 tons, 118% m/m, 414% y/y, cumulative total: 1,302 tons, 166% y/y.
• To Cambodia: No shipments for four consecutive months, 0 tons, m/m –%, y/y –%.
• To Pakistan: 0 tons for the second consecutive month, m/m –%, y/y –%.
• “Others”: Significant increase for the second straight month to 588 tons, 150% m/m, 576% y/y, cumulative total: 2,329 tons, 471% y/y. Of these, 588 tons were to China (see Table 1, Graph 1).
→ Ultimately, this month saw actual shipments only to India and China.
■ By volume composition ratio, from the previous month to this month:
• India: 46% → 40%
• Malaysia: 0% → 0%
• Cambodia: 0% → 0%
• Others: 54% → 60%
(See Graph 2)
■ In monetary terms, the total for April alone increased significantly for the second consecutive month to 2.81 billion yen, 136% m/m, 122% y/y, with a cumulative Jan–Apr total of 11.37 billion yen, 135% y/y (see Table 2, Graph 3). Notable rise in unit price from the previous year.
■ FOB (Free on Board) Price Trends:
The overall average rose slightly from ¥286/kg to ¥287/kg.
• India: Fell from ¥277 → ¥274
• Malaysia: No record → No record
• Cambodia: No record → No record
• China: Dropped from ¥301 → ¥296
Despite the yen’s appreciation, the average dollar-denominated price likely rose slightly. However, prices to both India and China — the only countries with actual shipments — declined. This was due to a mix effect from the growing share of exports to China.
• LME lead price: Sharp drop for the first time in three months from $2,034 → $1,909
• Lead bullion: Also sharply declined from $1,933 → $1,812 (See Graph 4)
LME Lead Price Trends (USD/Ton) – 3 Months
International Market Trends for Lead Bullion (USD/Ton) – 3 Months
Lead Scrap Export Volume and FOB Prices by Major Customs (Previous month values in parentheses)
FOB and Volume by Country & Customs Office (Previous month values in parentheses)
(IRUNIVERSE S. Aoyama)
