Japanese aluminum shipments in September fall 18pct YoY
Monday, 02 Nov 2009
Reuters reported that Japanese shipments of aluminum products fell 18.3% in September from a year earlier to 157,085 tonnes but were up from 138,920 tonnes in August.
Data from the Japan Aluminium Association showed that shipments fell on a monthly basis for the first time in 6 months in August down 16.6% from July, as beer shipments hit record lows and a mild summer cut sales of other beverages sold in aluminum cans.
Industry officials had pointed to previous MoM improvements as a sign of a recovery in demand, saying they expected demand for aluminum to recover to about 80% of year earlier levels by March 2010. YoY declines have been narrowing from near 40% drop earlier this year as demand from the automobile and semiconductor industries picks up.
Japanese demand for metals, such as copper and aluminum, plunged from late 2008 as the worst global economic downturn in decades hit consumer spending and forced manufacturers to cut output.
