Estimated aluminium wire export by Saudi Arabia to register double-digit drop since 2015

<p>The estimated aluminium wire export by Saudi Arabia has witnessed a year-on-year drop since 2015. The Middle East country with a strong aluminium semi-finished and finished product manufacturing base has been fostering the growth of the domestic non-oil industry to support its economy alongside to its main industry- oil. The major Saudi aluminium wire manufacturing companies like Midal Cables, ALUPCO, Riyadh Cables, Bahra Cables Company, and Alfanar, to name a few, have expanded fiercely over the last three years to make their presence felt in the international market.</p> <p>{newsStudioGallery}</p> <p>As per global export-import data, Saudi Arabia&rsquo;s aluminium wire export reached an estimated total of 9590 tonnes in 2015. In 2016, the volume dropped drastically to stand at 1566 tonnes. In 2017, the estimated aluminium wire export volume is expected to reach 2094 tonnes, up 34 per cent from the previous year, but still down by 78 per cent from 2015.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/saudiWire1.jpg" alt="News" width="517" height="297" /></p> <p>Revenue from aluminium wire export by Saudi Arabia has also decreased significantly since 2015. In comparison to US$26.3 million earnings in 2015, the value of aluminium wire export is estimated to reach only US$8.7 million by the end of 2017. In 2016, the value of export was much lower at US$3.7 million.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/saudiWire2.jpg" alt="News" width="517" height="289" /></p> <p>Quarterly volume exports in 2017 reveals a slightly improving trend. In the first quarter of the current financial year, aluminium wire export by Saudi Arabia is estimated to have reached 509 tonnes. In the second quarter the volume will rise to 529 tonnes. Aluminium wire export value is also slated to increase quarter-on-quarter. In Q1 FY 2017-18, it is estimated to have reached US$2.1 million, which will increase in Q2 FY 2017-18 to stand at US$2.2 million.</p> <p>{googleAdsense}</p> <p>Saudi Arabia has been exporting its major chunk of aluminium wire to Bahrain, Kuwait and Ecuador in 2017. Last year, it also exported to Jordan, Senegal and TYFR of Macedonia.</p> <p>Midal Cables, one of the pioneers in GCC downstream aluminium sector, supplies the world market with rod cast from the molten aluminium delivered directly from Aluminium Bahrain (ALBA) Smelter adjacent to its manufacturing plant. EC grade and 6201 Alloy Rod are sold around the world as well as being used in-house to manufacture a full range of overhead electrical conductors and aluminium wires.</p>