Hungary experienced enterprising growth in aluminium scrap import during 2019-21 driven by a favourable domestic recycling market

The usage of recycled aluminium has also entered our daily lives through beverage cans and electronic gadgets like iPad. Companies like Coca-Cola, PepsiCo, and Apple are now using used aluminium in their products as a way to demonstrate their commitment to green manufacturing. As a result, consumers should be able to lead their life knowing their gleaming new purchase has done some good for the environment.

Aluminium recycling is gaining momentum in Hungary, as lately Hydro built a new recycling facility in Szekesfehervar and Hungary-based Audi Hungaria Zrt operation is focusing on its own aluminium scrap in regards to reducing emissions and a step further to green.

Hungary with a Human Development Index (HDI) of 0.854, counts as one of the highly developed economies by UN definition, imported 257,529 tonnes of aluminium scrap during 2019-21, incurring revenue expenditure of $279.51 million for the import.

The Central European landlocked nation, Hungary imported 68,367 tonnes of aluminium scrap in 2019, causing an expenditure of $70.34 million, whereas, in 2020, the import witnessed a surge by 26.82%, as the aluminium scrap import excelled to 86,705 tonnes resulting in expenditure to grow at $80.73 million.

In 2021, the Hungarian aluminium scrap import was recorded at 102,457 tonnes, a rise of 18.16% on a Y-o-Y basis and the expenditure also further rose to $128.44 million.

The aluminium scrap importation for 2022 is analysed again with a growth of 10.62%, as the import volume is anticipated to ascend to 113,339 tonnes and earnings to stand at $158.88 million.

The major trading nations for Hungary’s import of aluminium scrap are Austria, Belgium, Bulgaria, Canada, Czech Rep., Croatia, Denmark, France, Latvia, Germany, USA, etc.

source https://www.alcircle.com/news/hungary-experienced-enterprising-growth-in-aluminium-scrap-import-during-2019-21-driven-by-a-favourable-domestic-recycling-market-80569