UPDATE 2-Japan aluminium shipments shows signs of stabilising

* March shipments edge up from a 26-year low in February * Industry sees potential bottoming out but no big bounce * Shipments by autos sector down 73 pct from year ago * Shipments for 2008/09 fall 11.8 pct to 2.03 million tonnes By Risa Maeda TOKYO, April 28 (Reuters) - Japanese shipments of aluminium products showed signs of stabilising in March, industry data showed, although at levels a hefty 35.8 percent down from a year earlier. Shipments totalled 124,248 tonnes, Japan Aluminium Association data showed, up 10 percent from February's 26-year low of 112,991 tonnes and a slightly smaller annual fall than the 38.7 percent slide seen that month from a year earlier. "It looks things are stabilising when compared with the time shipments were falling at double digit rates month-on-month," Aluminium Association chairman Hiroshi Yao told a news conference. Shipments of the metal, used in packaging, construction, electronics and transport, plunged between November and January as the global financial crisis crunched demand for major users, particularly automakers. The edging up of aluminium shipments follows macroeconomic data showing that seasonally adjusted Japanese exports also rose a little in March, although similarly still well short of levels seen a year earlier. [ID:nT55668] Economists also expect Japanese industrial production data due on Thursday to show a modest monthly increase of 0.8 percent in March after months of sharp falls. ECONJP But the stabilisation in aluminium shipments, if sustained, is at very low levels. Shipments by the autos sector were 73 percent lower than a year ago. "The mood in the economy may have hit a bottom and somewhat recovered, but I don't expect any recovery in demand in coming months to be strong," added Yao, who is also president and CEO at Mitsubishi Aluminum Co. There are also mildly positive signs on stocks. An official at Marubeni Corp said this month that stocks at three major Japanese ports fell 9.6 percent in March from a 10-year high in February as demand grew from China and Japanese firms slashed imports.