Bloomberg reported that aluminum stockpiles in Japan dropped to the lowest level in at least 14 years in September as shipments increased to the automobile and machinery industries.
According to Marubeni Corporation, inventories in Yokohama, Nagoya and Osaka ports dropped 12% to 169,900 tonnes as of September 30th 2009 from 192,200 tonnes at the end of August. The volume was the smallest since the company, Japan’s largest importer of the light metal, began compiling data in June 1995.
Industry data showed that manufacturers boosted purchases to expand production as government incentives raised sales of energy efficient cars and appliances. Toyota Motor Corporation and Honda Motor Company led the first gain in the nation’s automobile sales in 13 months in August as government energy efficiency incentives increased demand for their hybrid models.
The Japan Aluminum Association said recently that Japan’s shipments of aluminum rolled products fell 19% from a year earlier to 138,920 tonnes in August, the slowest pace of decline in 9 months.
Aluminum Inventories in Japan reached 374,600 tonnes at the end of February, the highest level since September 1998, as demand slumped amid the recession. Volumes then declined as Japanese trading companies and aluminum rolling mills pared purchase volumes under supply contracts this year on anticipation of worsening demand.
A breakdown of the Japanese stockpiles data follows:
| | Yokohama | Nagoya | Osaka | Total |
| Sep 30'09 | 84,600 | 73,300 | 12,000 | 169,900 |
| Aug 31'09 | 94,550 | 85,650 | 12,000 | 192,200 |
| Sep 30'08 | 125,200 | 119,400 | 11,000 | 255,600 |
(In tonnes)
(Sourced from Bloomberg)
