Norway: Aluminium Market Overview 2021

Aluminium Market Size in Norway

The Norwegian aluminium market shrank notably to $X in 2019, waning by -X% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2012 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2018, and then dropped rapidly in the following year.

Aluminium Production in Norway

In value terms, aluminium production reduced to $X in 2019 estimated in export prices. Over the period under review, production saw a perceptible slump. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Aluminium production peaked at $X in 2008; however, from 2009 to 2019, production stood at a somewhat lower figure.

Aluminium Exports

Exports from Norway

In 2019, shipments abroad of aluminium decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2010 when exports increased by X% y-o-y. Over the period under review, exports reached the maximum at X tonnes in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

In value terms, aluminium exports contracted to $X in 2019. In general, exports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. Exports peaked at $X in 2007; however, from 2008 to 2019, exports failed to regain the momentum.

Exports by Country

Germany (X tonnes), the Netherlands (X tonnes) and Spain (X tonnes) were the main destinations of aluminium exports from Norway, together accounting for X% of total exports. These countries were followed by Poland, Austria, France, Sweden and Italy, which together accounted for a further X 2007 to 2019, the biggest increases were in Poland, while shipments for the other leaders experienced a decline.

In value terms, Germany ($X), the Netherlands ($X) and Spain ($X) appeared to be the largest markets for aluminium exported from Norway worldwide, with a combined X% share of total exports. These countries were followed by Poland, France, Austria, Sweden and Italy, which together accounted for a further X saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2019, the average aluminium export price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, the export price recorded a mild descent. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average export prices reached the peak figure at $X per tonne in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2019, the highest prices were recorded for prices to France ($X per tonne) and Poland ($X per tonne), while the average price for exports to Austria ($X per tonne) and Spain ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to France, while the prices for the other major destinations experienced a decline.

Aluminium Imports

Imports into Norway

In 2019, overseas purchases of aluminium decreased by -X% to X tonnes for the first time since 2015, thus ending a three-year rising trend. Overall, imports, however, showed pronounced growth. The most prominent rate of growth was recorded in 2009 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2012; however, from 2013 to 2019, imports stood at a somewhat lower figure.

In value terms, aluminium imports contracted markedly to $X in 2019. Over the period under review, imports, however, saw a mild increase. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Imports peaked at $X in 2012; however, from 2013 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Russia (X tonnes) constituted the largest supplier of aluminium to Norway, accounting for a X% share of total imports. Moreover, aluminium imports from Russia exceeded the figures recorded by the second-largest supplier, Spain (X tonnes), more than tenfold. The third position in this ranking was occupied by South Africa (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Russia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and South Africa (+X% per year).

In value terms, Russia ($X) constituted the largest supplier of aluminium to Norway, comprising X% of total imports. The second position in the ranking was occupied by Spain ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Russia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+X% per year) and South Africa (+X% per year).

Import Prices by Country

In 2019, the average aluminium import price amounted to $X per tonne, waning by -X% against the previous year. Overall, the import price saw a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2007; however, from 2008 to 2019, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2019, the countries with the highest prices were Singapore ($X per tonne) and South Africa ($X per tonne), while the price for Iceland ($X per tonne) and Spain ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Singapore, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for aluminium in the world?

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The country with the largest volume of aluminium consumption was China (36M tonnes), comprising approx. 53% of total volume. Moreover, aluminium consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (4.2M tonnes), ninefold. The third position in this ranking was occupied by India (2.8M tonnes), with a 4.1% share.

What are the largest producers of aluminium in the world?

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China (36M tonnes) constituted the country with the largest volume of aluminium production, accounting for 55% of total volume. Moreover, aluminium production in China exceeded the figures recorded by the second-largest producer, India (4.5M tonnes), eightfold. The third position in this ranking was occupied by Russia (3.6M tonnes), with a 5.4% share.

What are the leading suppliers of aluminium to Norway?

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In value terms, Russia ($352M) constituted the largest supplier of aluminium to Norway, comprising 83% of total imports. The second position in the ranking was occupied by Spain ($13M), with a 3.1% share of total imports. It was followed by South Africa, with a 3% share.

What are the leading importers of aluminium from Norway?

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In value terms, the largest markets for aluminium exported from Norway were Germany ($623M), the Netherlands ($590M) and Spain ($289M), together accounting for 54% of total exports. These countries were followed by Poland, France, Austria, Sweden and Italy, which together accounted for a further 30%.

What is the average export price for aluminium in Norway?

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In 2019, the average aluminium export price amounted to $2,181 per tonne, which is down by -12.4% against the previous year.

What is the average import price for aluminium in Norway?

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In 2019, the average aluminium import price amounted to $1,973 per tonne, reducing by -13.9% against the previous year.