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Car maker Daihatsu, a subsidiary of Toyota, has suspended production at all domestic plants amid a safety test data manipulation scandal. Meanwhile, Japan’s total new car sales increased from 7.8 million units in 2022 to 9 million units last year while 1 million purchase orders remain outstanding.

In other developments, more time will be needed to assess the long-term impacts on the supply chain following the major earthquake in Japan on January 1.

For copper, domestic production has decreased as Japanese consumption remains weak while scrap prices have remained high owing to low levels of generation. The shift towards production of “green” aluminium, meanwhile, will entail use of greater volumes of scrap.