Japan’s aluminium inventories rise 3.4% M-o-M, as international trade juggles between boon and bane
As of the end of April 2025, aluminium inventories at Japan’s three major ports — Yokohama, Nagoya and Osaka — have reached 320,300 tonnes, up 3.4 per cent from March’s 309,700 tonnes, according to Marubeni Corp data. In parallel, as disclosed previously, the import premium for primary aluminium shipments into Japan plunged 20 per cent quarter-on-quarter to USD 182 per tonne in Q2 2025, the first quarterly decline in five quarters, based on nine trades concluded between March 24-27, as reported by S&P Global Platts and Reuters sources.
Meanwhile, domestic consumption fell 3.3 per cent to 3.35 million tonnes in the January-November 2024 period. Building sector demand slid 7.7 per cent to under 350,000 tonnes, and automotive usage dropped 4.1 per cent to 1.45 million tonnes, per Japan Aluminium Association figures reported by Argus Media.
Aluminium stocks at Yokohama rose to 134,300 tonnes in April from 133,100 tonnes in March, Nagoya inventories jumped to 167,500 tonnes from 158,900 tonnes, and Osaka holdings increased to 18,500 tonnes from 17,700 tonnes, bringing the total to 320,300 tonnes. This 3.4 per cent month-on-month gain reverses a 1.2 per cent decline recorded in March, when total stocks dipped to 309,700 tonnes.
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