Date: 02 April 2020 , 18:24
News ID: 9032
NEWS SERVICE: Non-Ferrous

Saudi Arabia’s aluminium ingot export shows dip during 2017-20

At the desert complex of Saudi Arabia’s north-eastern Gulf coast, refineries, smelters and casting machines transform dull pink rocks into silver aluminium bars, a symbol of the kingdom’s attempt to diversify its economy.
Saudi Arabia’s aluminium ingot export shows dip during 2017-20

After only two years in operation, the $10.8 billion aluminium project at Ras al-Khair, an industrial city 200 kilometres (125 miles) north of the oil hub of Dammam, is already the world’s largest integrated aluminium facility.

Aluminium is the company’s single-largest cash generator, at 4.8 billion riyals ($1.3 billion) in revenue in 2015, and mining is a pillar of Saudi Arabia’s shift away from oil.

The Kingdom’s aluminium ingot export has been showing dip, as between 2017-19 it reflected an unsteady export demand, whereas in 2020 it has been projected a decline of 20.01%.

The total export from 2017-19 has been recorded with a total volume of 1.73 million tonnes, whereas when the 2020 estimated volume added it shows 2.09 million tonnes.

Saudi Arabia’s aluminium ingot export in 2017 was recorded at 582,967 tonnes, whereas in 2018 it showed a growth of 8.45%, as the total volume remained at 632,230 tonnes, an excess by 49,263 tonnes.

In 2019 the aluminium ingot export was reflected at 488,483 tonnes, denoted a dip by 22.73%. The estimated export for 2020 also shows de-growth by 20.01%, as the total export remained just at 390,711.

The Kingdom has been exporting aluminium ingot to various countries like Algeria, Germany, France, Canada, China, Brazil, Iceland, Indonesia, India, Italy, Japan, Jordan, Lebanon, Malaysia, etc.

source: ALCIRCLE.COM
Saudi Arabia Aluminium export Economy Casting
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