Japan Aug aluminium stocks up 10 pct, off 14-yr low

* End-Aug stocks off 14-year low * End-Aug stocks down close to 22 pct yr/yr TOKYO, Sept 11 (Reuters) - Aluminium stocks held at three major Japanese ports at the end of August rose from the previous month when they fell to their lowest since Marubeni Corp began keeping records 14 years ago. Stocks amounted to 192,200 tonnes at the end of August, up 10 percent from a month earlier, Marubeni Corp <8002.T>, which collects data from the ports of Yokohama, Nagoya and Osaka, said on Friday. Stocks held at these ports plunged to 174,200 tonnes at the end of July. The August figures are still down nearly 22 percent from the same month in 2008. A Marubeni official said that while port stocks are typically around 200,000 tonnes, in line with about a month's worth of consumption, the current level was appropriate given current low demand for aluminium. Japan's demand for metals, including aluminium, plunged from late last year as top consumers such as the auto industry cut production to try to weather the worst global downturn in decades. The metals industry responded by aggressively consuming domestic stocks, which ballooned to alarming levels, while sharply cutting down on imports. This resulted in domestic stocks falling to record low levels. The low stocks are blamed at least in part to causing Japanese aluminium premiums to soar to a 14-year high despite weak domestic demand. Some Japanese buyers of primary aluminium ingots to be supplied in the October-December were settled at $115 per tonne over the London Metal Exchange cash price, including insurance and freight costs. There were also reports of deals done at levels around $120, but the bulk appears to have been done at $115, industry officials said. Japan's consumption of the metal, also widely used in the construction, is showing signs of improving, but the recovery is still fragile and demand remains below year-earlier levels. Following are details of Japanese aluminium stocks, including month-on-month and year-on-year comparisons (in tonnes): Yokohama Nagoya Osaka Total Aug 31 94,550 85,650 12,000 192,200 Jul 31 94,300 67,900 12,000 174,200 Jun 30 106,900 87,900 12,800 207,600 May 31 122,000 107,800 13,500 243,300 End-Aug 2008 119,000 114,200 12,000 245,200 (Reporting by Miho Yoshikawa; Editing by Andy Bruce)