In Europe, where industrial confidence hit a record +8 in June from +5 in May, activity in the downstream sectors has been maintaining momentum. In response to the growing demand, German mills have been ramping up production of aluminium semis, with output in May up by a sharp 27 percent year-on-year. In Japan too, although prospects are less buoyant, preliminary data from the Japan Aluminium Association suggest that shipments of aluminium mill products in May rose 5.8 percent from a year earlier and were up 1.6 percent from a month ago at 201,697 tonnes.
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