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Japanese rolled copper product output fell by 3.7%y-o-y to 68,620t in March. This was mainly attributed to disruption to automotive supply chains following the March 11 disaster. The full impact of the decline of Japanese carmakers is expected to hit copper producers in the forthcoming months due to the expected two month time lag in copper demand. There is, however, optimism about the medium term demand outlook due to growing demand in air conditioner and housing utensil production in addition to the positive effects of the country's forthcoming rebuilding work. Company operations are expected to ramp up after factory repairs are anticipated to be completed towards the summer.