In the fast-paced world of global trade, staying ahead necessitates intelligent decision-making. Data analysis is important for organisations in the aluminium scrap industry. Understanding and exploring Aluminium scrap import data and aluminium scrap importer data is essential to success. In this detailed blog, we will investigate the significance of these datasets, delve into the complexities of the aluminium scrap trade, and provide insights to help your company reach new heights.
Aluminium scrap is an important material in many manufacturing industries across the world. The economic and environmental benefits of this valuable substance have increased demand for it. It is one of the most affordable and abundant sources of aluminium scrap, and it is commonly used in low-end items that do not require high-grade aluminium. Old sheet aluminium is mostly used in HVAC systems, heat exchangers, and fan blades. It can also be used for construction materials.
It is critical to understand the various varieties of aluminium scrap in order to identify its application and value. Each class has unique characteristics that make it ideal for various applications.
The Indian aluminium scrap market recently experienced a significant increase in pricing due to a rise in futures contracts on the London Metal Exchange (LME). Despite this, transactions in the western region have been constrained due to the absence of crucial trade participants as the holiday season approaches.
According to Aluminium Trade Data, the worldwide aluminium market was valued at USD 159.32 billion in 2021 and is expected to reach USD 255.91 billion by 2029.
SteelMint's most recent evaluation of Zorba 95-5, UK-origin, reveals a $55 increase per tonne, with the current price at $1,955 per tonne. Market players report a weekly price increase of $60–70 per tonne across all aluminium grades.
However, the current market condition supports other key scrap supply regions, including the Middle East, where tense scrap prices have been evaluated at $1,575 per tonne, representing a $35 per tonne week-on-week gain, according to SteelMint.
According to Aluminium scrap import data, India is the world's largest importer of aluminium scrap, with a whopping 506,864 shipments expected in 2023. These imports come from a global network of 14,928 suppliers serving 3,453 Indian importers.
Based on aluminium scrap exporter's data, the United States, Saudi Arabia, and the United Arab Emirates are India's primary suppliers, cementing their status as the top destinations for aluminium scrap exports.
Interestingly, Pakistan and South Korea are the world's second and third-largest importers of aluminium scrap, indicating an increasing demand for this versatile resource after India. Within India, specific HSN codes such as 76020010, 72044900, and 76020090 are the top product categories for aluminium scrap imports, reflecting the material's wide range of applications in the Indian market.
Aluminium Scrap Importers Data is an immense source of information, offering detailed insights into the global movement of aluminium scrap. This data encompasses many crucial details, including shipment details, quantity imported, country of origin, HS codes, etc. By tapping into this valuable resource, businesses can gain a competitive edge, making informed decisions about procurement, pricing, and market trends.
Also, businesses must focus on aluminium scrap importer data to navigate the complex landscape of the aluminium scrap trade. Our Seair Exim Solutions dataset provides a comprehensive overview of companies engaged in importing aluminium scrap.
One of the essential elements of Aluminium scrap import data is the identification of the top aluminium scrap importers. By recognizing the significant players in the industry, businesses can tailor their approaches to target high-potential markets. This guide goes beyond the basics to reveal the top 10 aluminium scrap importing countries, shedding light on emerging trends and market dynamics.
According to the scrap importers list, these are the top scrap importers globally:
To gain a complete insight into the aluminium market or the top scrap importers, Aluminium import data must be analysed. Our exclusive dashboard helps you find crucial facts, major scrap importers, and the HS code of aluminium scrap.
Overall, aluminium imports increased by 24% in FY23 compared to the previous year, resulting in a forex outflow of USD 7 billion, or approximately Rs 56,291 crore. The actual customs duty on aluminium scrap is 2.5%. However, the cumulative aluminium imports increased by 24% in FY23 compared to the previous year, resulting in a forex outflow of USD 7 billion, or approximately Rs 56,291 crore. Within imports, India has emerged as a critical target for dumping low-quality foreign scrap.
"Because quality regulations govern imported scrap, it poses substantial safety and environmental problems. In response, AAI has requested a 10% levy on scrap imports as a significant disincentive to dumping," the Aluminium Association of India (AAI) stated in its petition to the government.
There are several approaches for acquiring Aluminium scrap import data. To obtain accurate and up-to-date import statistics for aluminium scrap, go to Seair Exim Solutions and have access to the real-time product database. We also provide a list of genuine scrap importers and HS codes. We at Seair Exim Solutions also offer import and export data with importer names and Exim data. Also, we have an exclusive database for 100+ global nations.
In conclusion, knowledge and strategic understanding determine success in the aluminium scrap trade. Businesses may utilize the updated and accurate Aluminium scrap import data and Aluminium scrap importer data to improve their operations, outperform competitors, and negotiate the complexity of the global market. However, if you have any queries related to top aluminium scrap importers, you can connect with Seair Exim Solutions and gain global market insights at your doorstep!
Q1. Who is the largest importer of Aluminium scrap?
The world's top importer of aluminium scrap is India, which has continuously led the way in recent years. In 2022-23, India bought 3.14 million metric tonnes of aluminium scrap.
Q2. Which country has more Aluminium scrap?
Aluminium scrap import data does not easily identify a particular country. However, given production and consumption trends, countries like China and the United States are expected to maintain considerable inventories.
Q3. How much Aluminium scrap is imported in India?
According to Aluminium scrap importer data, India's aluminium scrap imports were approximately 506.9 thousand metric tons as of October 31, 2023, with 3,453 importers purchasing from 14,928 vendors.
Q4. Which countries export the most Aluminium scrap?
According to recent statistics, the leading aluminium scrap exporters are:
Q5. Which country is largest exporter of Aluminium scrap?
The United States is the greatest exporter of aluminium scrap, with a value of 3.56 billion USD in 2022.
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