New supply contract negotiation suspended, Venalum stop to transfer aluminum to Japan

Showa Denko K.K. said recently the biggest aluminum smelter in Venezuela—Industria Venezolana de Aluminio（Venalum）stopped to supply aluminum to Japan in December. This is the second time from May because new supply contract was suspended. General Manager of Showa Denko K.K. said according to former agreement, Venalum should to transport 15 thousand ton aluminum to Japan each month because Japan owns its shares. Venalum was build in 1973, is w joint venture on aluminum. Venezuela support nature resource and labor, Japan supply techonology and fund. Kyosuke Okano said they want to reach an agreement with Japan quickly.