Strong aluminum scrap demand from Asia might cause supply shortage in Europe
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Update time : 2024-03-19 17:07:16
According to statistics from Eurostat, in 2021, the EU's aluminum scrap exports reached about 1.1 million tons. Among them, the exports to India reached about 296,000 tons. Besides, in 2022, India became the biggest aluminum scrap import country in the world, accounting for 15.8% of the total global import volume. Among them 14% of India's imports were from the EU's countries.
European aluminum alloy manufacturers were more and more worried about aluminum scrap shortage, exacerbated by various factors constraining availability as demand for alloy began to recover from a period of subdued industrial activity.
Scrap supply levels in Europe have remained tight for years, with strong international demand continuously depleting scrap stocks across all grades. Asian buyers, particularly in India and China, have been significant consumers of scrap. Even though the Red Sea crisis led to higher freight costs and longer lead times, the demand from Asia was still strong.
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