Japan aluminium stocks at December end up by 7pct MoM

Reuters reported that aluminium stocks held at 3 major Japanese ports rose 7.09% in December compared to a month earlier, although there has been steady demand for the metal. Official of Trading house Marubeni Corporation said that there has been a steady flow of supply from stocks. Japan's demand for aluminium, widely used in packaging and transportation has returned after falling sharply last year as manufacturers cut production due to the economic crisis. Demand is now back to about 80 percent of the typical year, although appetite in the construction sector a major consumer remains in a slump. The official added that however, those metal industry officials remain worried about aluminium demand from April, when the new financial year begins as recent economic data has suggested that Japan's recovery is still fragile. The country's core machinery orders tumbled to a record low in November, adding to government fears of a return to recession that could heighten the need for yet more fiscal stimulus spending. (Sourced from Reuters)