To provide an aqueous coating composition suitable as an external surface coating for metallic cans and polyester film-coated drawn cans that forms a cured coating film hardly generating fumes derived from a benzoguanamine resin and therefore excellent in respect to hygiene, exhibiting good high-speed scratch resistance and hardly suffering from wax falling-off.

The aqueous coating composition comprises the benzoguanamine resin (b) containing a mononuclear component of a specific structure obtained by N-methylolization with formaldehyde of benzoguanamine and partially condensing the product followed by N-alkoxylation, an acrylic copolymer (c) comprising (i) to (iii) below and a wax having a melting point of 30-100°C: (i) an N-alkoxymethyl(meth)acrylamide; (ii) an α,β-monoethylenically unsaturated carboxylic acid; (iii) a (meth)acrylate monomer and/or a vinyl monomer copolymerizable with (i) and (ii) above and giving a copolymer, having a glass transition temperature of 20-80°C, of monomers (iii).