Japanese aluminium shipments in January jump YoY

Reuters reported that Japanese shipments of aluminium products rose 23.1% in January from a year earlier, underpinned by a recovery in demand in the auto, electrical appliances and food sectors.

Japan Aluminium Association data showed that shipments in January rose to 150,373 tonnes, marking the second straight month on YoY increases. From December, shipments fell 3.6% for the third consecutive monthly drop and were the lowest since 138,920 tonnes in August.

The global economic crisis reduced demand for the metal as automakers and other manufacturers slashed production after late 2008, but demand for aluminium has returned to about 80% to 85% of levels seen before the crisis.

Data showed that Japan's industrial output rose 2.5% in January, beating economists' median estimate for 1.0% rise, as manufacturers ramped up production to meet demand from fast growing Asia. But aluminium industry officials remain worried about the pace of recovery this year as Japan's economy remains fragile in the face of persistent deflation and with notable weakness in the construction sector.

(Sourced from Reuters)