Japan Aluminum Product Shipments Decline at Slower Pace in May

June 26 (Bloomberg) -- Japan’s shipments of aluminum rolled products dropped at a slower pace in May than in April as demand increased from beverage can makers. Supplies to the domestic and export markets declined 30 percent to 138,503 metric tons from 196,842 tons a year earlier, the Japan Aluminium Association said in a statement today. The pace of decrease slowed for a third month after starting to drop in October. Shipments plunged 39 percent in February, the worst slump in 34 years, tumbled 36 percent in March and fell 31 percent in April. Japan’s government and central bank raised their assessments of the economy for a second month in June after industrial output advanced at the fastest pace in 56 years and exports improved. Bank of Japan Governor Masaaki Shirakawa said June 16 he is “cautious” about the rebound because renewed demand may only be temporary.