High Aluminium Price Hits Japan Light Metal Rerollers’ Results

Three light metal rerollers of Japanese major 4 makers posted lower profit for April-June from same period of 2006 due to higher aluminium ingot price while Sumitomo Light Metal Industries reported higher profit. The demand was slow for plate for information technology industry while the automobile demand kept firm. Sumitomo Light Metal Industries posted higher profit for the quarter from same period of 2006 due to gain from Australian smelting subsidiary. Nippon Light Metal reported lower profit with higher sales when the higher aluminium ingot reduced the margin. Kobe Steel was suffered from IT slump along with slower demand for aluminium disc materials. Furukawa-Sky Aluminum posted lower profit due to slower demand for can material and plate for semiconductor and liquid crystal making equipment.