Tokyo — Japan's stocks of aluminum products stored in three main port warehouses rose to a two-year high of 310,400 mt at the end of July, Japanese trading house Marubeni said Tuesday.
The stocks were up 1.1% from 306,900 mt in June, and the highest since 305,900 mt of July 2016.
Japanese market sources said stocks have been on the rise after the April 6 US sanctions on Rusal, one of the major suppliers in Japan.
Two Japanese end-users decided to suspend quarterly and monthly buy tenders due to high stocks, sources also said.
Yokohama stocks stood at 156,600 mt, up from 151,700 mt a month earlier, while Nagoya was at 138,800 mt, down from 140,200 mt, and Osaka was flat at 15,000 mt, according to Marubeni data.
