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INTERVIEW-Nippon Mining: no primary indium buying until Q4

Thu Jul 2, 2009 5:16am EDT

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TOKYO, July 2 (Reuters) - Japan's Nippon Mining & Metals Co Ltd, a top consumer of indium, said it will not be buying primary indium at least until the fourth quarter of this year due to sufficient supplies from abundant stocks and recycled metal.

The company has not purchased primary indium since February of this year, Shouji Suzuki, a general manager at Nippon Mining, told Reuters in an interview.

"We have not made (fresh) metals purchases ... and I don't think any (domestic) firm has because there was heavy buying, including by ourselves, until the autumn of last year, due to worries at the time about supplies," Suzuki said.

He said large stocks together with recycled metal were expected to be enough to cover its needs until this autumn to produce indium-tin oxide (ITO), a key component for liquid crystal displays (LCDs) used in flat panel screens.

ITOs, a coating for LCD screens, accounts for the bulk of indium's applications.

Nippon Mining, a member of the Nippon Mining Holdings Inc (5016.T) group, is one of the world's leading ITO producers, together with Japan's Mitsui Mining & Smelting Co Ltd (5706.T).

Suzuki said it believed it had enough supplies of indium without making fresh purchases despite brisk sales of LCD TVs.

DisplaySearch said last month it expected global LCD TV sales volume to increase by 21 percent this year, faster than previously forecast, helped by strong sales in developed markets and China's enhanced incentive programme for TV purchases. [nSEO106017]

(Reporting by Miho Yoshikawa; Editing by Michael Watson)

((miho.yoshikawa@thomsonreuters.com; +81-3 6441 1854; Reuters Messaging: miho.yoshikawa.reuters.com@reuters.net))

((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) Keywords: JAPAN INDIUM/

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