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04 APRIL 2022 AL CIRCLE

Kuwait’s export of aluminium scrap during 2019-21 illustrates a volatile trend; 15% dip estimated for 2022

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The scrap metal of the aluminium is generated in various ways in the manufacturing process and used by the end-user. However, nowadays, the processing of aluminium scrap primarily chips and used drink cans have attracted increasing observation. Earlier, the usage of recycled or secondary scrap was a done in a little portion compared to the global aluminium industry’s production, while the situation has changed now due to the environmental impact and sustainability reasons.

Kuwait's export of aluminium scrap

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The World Bank has reported that the petroleum-based wealthy economy of Kuwait drives the nation to be the fifth richest in the world by gross national income per capita.

A highly developed welfare state with a free-market economy, Kuwait exported 28,564 tonnes of aluminium scrap from 2019 to 2021, incurring revenue earnings of around $38.79 million from the export.

Kuwait export 5790 tonnes of aluminium scrap in 2019, which attracted earnings of $6.59 million, whereas, in 2020 the export illustrated a booming outflow of aluminium scrap by 19,637 tonnes, a sudden rise by 239.15% counting earnings to around $31 million.

In 2021, the aluminium scrap export of Kuwait demonstrated a sharp downfall of 525.98%, as the export volume dropped to 3137 tonnes keeping earnings at $1.2 million.

The export for 2022 is analysed with a further downfall of 14.82%, as the export volume is anticipated to stand at 2672 tonnes, while earnings remain at $1.48 million.

World recycled Aluminium Market Analysis

The major trading nations for Kuwait’s export of aluminium scrap are Austria, Belgium, India, Italy, Thailand, South Korea, etc.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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