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09 AUGUST 2021 AL CIRCLE

France import of aluminium scrap during 2018-20 showcases excellent rise with a downfall; 10% further de-growth expected in 2021

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

In Q1 2021, the French GDP contracted only 0.1% Q-o-Q, after a 1.5% plunge in Q4 of 2020. The economic activity was boosted by a modest rebound in investment spending and private consumption.  However, the growth rate in Q2 is impacted by the comprehensive lockdown measures imposed in April, whiles the gradual uplift of those restrictions in May and June, together with the vaccination rollout, drive to regain in the H2 of the year. According to Oxford Economics, the French economy is forecasted to grow 5.4% in 2021, after a steep 8.2% contraction in 2020.

France import of aluminium scrap

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The Western European nation, France imported 612,825 tonnes of aluminium scrap during 2018-20 and the expenditure accounted for the import was reported at $690.81 million. The country also leads to being one of the largest exporters of aluminium scrap in the European Union zone.

France import of aluminium scrap in 2018 was recorded at 156,575 tonnes of aluminium scrap and the expenditure counted for the import was $204.59 million, whereas, in 2019, the import of aluminium scrap showcased an excellent rise by 62.49%, as the import volume rose to 254,423 tonnes and the expenditure also escalated to $296.58 million.

France import of aluminium scrap

In 2020, the aluminium scrap import was registered with a downfall of 20.67%, as the import volume drops to 201,827 tonnes and the expenditure also declined to $189.64 million. The drop in demand is due to the Covid-19 pandemic lockdown, which destructed the supply chain facility and there was a reduction in the creation of scrap metal due to the temporary shutdown of major industries or slowdown of production.

The import for 2021 is analysed with a further plunge by 10.27%, as the import volume is estimated to remain at 181,096 tonnes and the expenditure to stand at $173.10 million.

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France major trading destinations for the import of aluminium scrap is Czech Rep., Austria, Belgium, Denmark, Egypt, Germany, Greece, Hungary, Italy, etc.

 


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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