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

UACJ

19/05/2020 10:45

TOKYO, May 19 (Reuters) - 
    * Japan's top aluminium rolling company UACJ Corp  5741.T 
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)
 ((Yuka.Obayashi@thomsonreuters.com; +813-4563-2761;))