MS-Mitsui Mining Smelting Jun Malaysia Japan Copper Foil Stats-20250730
这篇研报讲什么？
摘要原文摘录Value of copper foil exports from Malaysia to China/Hong Kong/Taiwan/Japan -14.7% YoY, -1.7% MoM in Jun: Jun export values by region: -16% YoY, -1% MoM forChina, -26% YoY, -9% MoM…
机构观点归属摩根士丹利，研报雷达仅作摘要整理与机构观点聚合。以下为研报摘要原文摘录，内容以原始报告为准。
研报摘要
Value of copper foil exports from Malaysia to China/Hong Kong/Taiwan/Japan -14.7% YoY, -1.7% MoM in Jun: Jun export values by region: -16% YoY, -1% MoM forChina, -26% YoY, -9% MoM for Taiwan, and -23% YoY, -25% MoM for Japan. LMEcopper price was +2% YoY.
June marks first YoY decline in 19 months, but Apr-Jun cumulative figures arebrisk: The increase in copper foil exports to Taiwan, where we think MMS has alarge share, leaves a positive impression. For F3/26, MMS' forecasts are +28% YoYfor MicroThin products overall, breaking down as flat YoY for HDI products and+35% for package applications. We think trends in the company’s high-grade foilbusiness will continue to draw attention.
Jun Japan copper foil export data: Export volume from Japan, 4,225t (+5.7% MoM /+5.1% YoY); export value, ¥23.9bn (+23.9% MoM / +21.5% YoY).
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