Aluminum stockpiles in Japan dropped 7.3 percent in March from a month earlier, the largest decline in eight months, signaling a recovery in demand from Asia’s largest importer of the metal used in cars and houses.
Inventories held in Yokohama, Nagoya and Osaka ports declined to 245,100 metric tons at the end of last month from 264,500 tons on Feb. 29, trading company Marubeni Corp. (8002) said today by e-mail. It was the second month of decline after the total reached 277,800 tons in January, the highest level since April 2009.
A breakdown of Japanese stockpiles data follows:
============================================================= Yokohama Nagoya Osaka Total ============================================================= March 31, 2012 126,100 104,000 15,000 245,100 Feb. 29, 2012 138,100 111,400 15,000 264,500 Jan. 31, 2012 135,800 127,000 15,000 277,800 (Figures are in metric tons.) =============================================================
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