May 19, 2020 / 9:46 AM / 17 days ago

Japan's UACJ to cut output of auto materials by 30-40% y/y in May-June

TOKYO, May 19 (Reuters) -

* Japan’s top aluminium rolling company UACJ Corp plans to cut its domestic output of aluminium products used in automobiles by 30-40% in May and June from a year earlier to cope with slumping demand amid the coronavirus pandemic, its president said on Tuesday.

* “Our output (of materials used in automobiles) will likely drop to 60-70% in May and June from a year earlier, with an expected improvement by about 10 percentage point in July-September,” UACJ President Miyuki Ishihara told a news conference, adding that output is seen to return to 90% by the end of this year.

* Aluminium demand has been hit, especially in areas such as automobiles and semiconductors, while demand for cans remained solid, he said.

* UACJ will reduce purchase of primary aluminium to meet lower production, Ishihara said. He did not give any specific figures.

Reporting by Yuka Obayashi, editing by Louise Heavens

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