Luxembourg’s Aluminium ingot importation market remains strong during 2017-20

Luxembourg's economy is quite similar to Germany's and the nation enjoys a degree of economic prosperity very rare among industrialized democracies.

In Luxembourg, Hydro is present with metal products operations. The company’s largest aluminium remelting operation in Europe is based in Clervaux, with capacity topping 100,000 tonnes per year. The plant remelts aluminium scrap into extrusion ingot, but still, the country’s demand for aluminium ingot remains unfulfilled.

Luxembourg’s total importation of aluminium ingot during 2017-19 was recorded at 206,757 tonnes and the expended revenue stood at $334.84 million. The estimated import for 2020 has been analysed at 65,980 tonnes and the amount to be expended might reach to $110.11 million. When added up with the last three years the total import volume reflects at 272,737 tonnes and the value remains at $444.95 million.

The aluminium ingot importation of Luxembourg in 2017 was recorded at 63,405 tonnes and the foreign currency expended stood at $98.4 million. In 2018 the aluminium ingot import saw a rise 28.11%, as the Y-o-Y excess volume was 17,824 tonnes, as the total import volume stood at 81,229 tonnes. The revenue expenditure reached $132 million, with a rise in value by $34 million from the preceding year.

In 2019, the aluminium ingot import again stroked downwards by 23.52%, as the total import was reflected at 62,123 tonnes, with 19,106 tonnes de-growth in volume on Y-o-Y, while the expenditure stood at $104.44 million.

The estimated import for 2020 though analysed a growth by 6.20%, as the total import will remain at 65,980 tonnes.

The various trading countries for Luxembourg’s aluminium ingot are Cameroon, China, Canada, Germany, Netherlands, Norway, Russia, Saudi Arabia, Switzerland, UAE, etc.