Sales in Japan fell 19.4% and production 39.3% in August as global automaker TOYOTA cut production due to global semiconductor and raw material shortages.
In September, sales in Japan were the worst in three months.
The transportation, metal products and construction, demand industries for primary aluminum, and the decline in automobile production could lead to a significant decrease in aluminum demand in the Japanese market.
Market sources said auto industry weakness hit the spot aluminum market. Recent aluminum price talks by Japan's Modern Japanese Program have also stalled due to weak downward demand, delaying the deadline twice.
Comments
No comment yet.