Turkey’s aluminium wire import to extend decline in 2019 by 6%, while import cost to stay flat

The global export-import data estimates that aluminium wire import by Turkey will record a marginal drop this year from 23,387 tonnes in 2018 to 22,012 tonnes, down 6 per cent. The data shows that the country’s aluminium wire import had even dropped last year from 38,905 tonnes in 2017 to 23,387 tonnes. The decline was by 40 per cent year on year. The data also indicates that in the last three years Turkey’s aluminium wire import only registered a rise in 2017 from 18,449 tonnes in 2016 to 38,905 tonnes, up 110 per cent.

As far as Turkey’s aluminium wire import cost is concerned, it is likely to remain flat in 2019 at US$63 million, despite growth in import volume. The cost was down last year as well from US$92 million in 2017 to US$63 million, in tandem with the decline in import volume. Also in 2017, in consequence of the growth in Turkey’s aluminium wire import volume, the import cost had stood up from US$39 million in 2016 to US$92 million.

Mozambique is estimated to be the leading supplier of aluminium wire to Turkey in 2019, providing with 11,289 tonnes at US$29 million.

It is to be noted here that although Turkey’s aluminium wire import has been found decreasing over the past two years, its demand in the country, as well as all across the globe, however, shows no trace of decline. Rising demand towards diverse, innovative product grades for electrical and automotive applications have been stimulating the global aluminium wire market size. Transformers, building wires, electrical appliances, and automotive are some of the sectors that consume a maximum amount of aluminium wires. Wires including enamelled, fibre glass, nomex, and paper insulated are used in various industrial segments owing to their exceptional characteristics. In 2017, enamelled round & rectangular aluminium wire market demand was valued at USD 25 billion.