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Aluminum Shipments by Japan Advance for a Seventh Month on Stronger Demand
Japan’s shipments of rolled-aluminum products increased 14 percent in June, gaining for the seventh straight month, as demand for the metal used in cars and houses improved as the economy recovers.
Supplies to domestic and export markets expanded to 179,941 metric tons from 158,605 tons a year earlier, the Japan Aluminium Association said in a statement today. The growth was led by demand from auto and electronics makers.
The Japanese government said July 21 the economy is “picking up steadily” amid signs that the nation’s recovery is becoming sustainable. Japan’s exports increased 27.7 percent in June from a year earlier, faster than economists estimated, government data showed this week.
“Shipments are going well at the moment,” Masateru Yoshihara, the association’s vice chairman, told reporters in Tokyo today. “I don’t expect they will keep expanding at the current pace.”
Aluminum product shipments to the auto sector surged 46 percent to 24,956 tons, while sales to manufacturers of chip- making equipment and other devices jumped 61 percent, data from the association showed.
The government will end a subsidy program for fuel- efficient cars at the end of September, said Masayuki Naoshima, minister for economy, trade and industry. Demand could be affected by the halt of such programs, Takashi Ishiyama, the association’s chairman, said today at the same news conference.
Members of the association include Furukawa-Sky Aluminum Corp., Kobe Steel Ltd. and Nippon Light Metal Co.
Details of output, shipments and inventories are as follows:
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June 2010 May 2010 June/May June Y/Y =============================================================
(%) (%) OUTPUT 178,734 169,839 +5.2 +12.0 Flat-rolled 112,084 111,161 +0.8 +10.9 Extruded 66,650 58,678 +13.6 +14.0 SHIPMENTS 179,941 165,638 +8.6 +13.5 Flat-rolled 112,886 106,900 +5.6 +12.3 Extruded 67,055 58,738 +14.2 +15.4 INVENTORY 79,270 80,706 -1.8 -2.9 Flat-rolled 68,233 68,964 -1.1 -1.8 Extruded 11,037 11,742 -6.0 -8.9 =============================================================
To contact the reporter on this story: Aya Takada in Tokyo at atakada2@bloomberg.net Yasumasa Song in Tokyo at ysong9@bloomberg.net.
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