Japanese indium import hits a record 18% in 2011; rare earth metals dip 5%

TOKYO (Scrap Monster): Japanese rare earth metals import declined sharply by 5% to 5,211 tons while its indium imports reached a record 18% to 494 tons in 2011, according to the rare metal trade statistics released by Ministry of Finance.

According to the Ministry, Japanese indium imports hit the monthly highest at 59 tons in April 2011. The import volumes of indium largely increased in the first half of 2011 since domestic traders apparently procured indium actively for the consumers in West Japan. The imports slowed down in the second half of 2011along with the inventory adjustment of liquid crystal panels.

In Japan, indium is mainly used as transparent electrode material for liquid crystal panels.

Japanese rare earth users showed weak appetite for permanent magnet materials, such as metallic neodymium, when the market prices had surged speculatively. Rare earth magnets are mainly used for motors inside electric vehicles and energy saving home appliances.