Mexico: The multi-million dollar aluminium scrap export market remains volatile during 2018-20

According to Trading Economics global macro models and analysts expectations, the Mexican GDP tp predicted to reach $1113 billion by the end of 2021and in the long-term, the GDP is projected to trend around $1158.00 billion in 2022.

The lack of bauxite mines has kept Mexico on the back foot toward primary aluminium production, but the country is popular for its secondary aluminium smelters and die-casters which cater to the domestic automotive industry. The country situated in the southern portion of North America has recorded 706,635 tonnes of aluminium scrap export during 2018-19 and $1.06 billion revenue generated from export. The export for 2020 stood at 393,714 tonnes and the earnings remained at $516.21. However, when the export volume and expenditure gets assorted with the existing two years, it denotes 1.10 million tonnes and $1.58 billion respectively.

In 2018, the export for Mexico’s aluminium scrap was documented at 286,160 tonnes and the earnings accounted to the export was $483.45 million, whereas, in 2019, the export saw growth by 46.93%, as the export volume rose to 420,475 tonnes and the earnings also grew to $578.06.

The export for 2020 was registered at 393,714 tonnes, a downfall of 6.36% and the earnings also dropped to $516.21 million.

Mexico’s major trading destinations for the export of aluminium scrap are Belgium, Brazil, China, Germany, Greece, Hong Kong, India, Indonesia, Japan, Netherlands, Saudi Arabia, South Korea, Spain, etc.