Unwrought aluminium market in Slovakia

Earlier Report Observations

The unwrought aluminium market in Slovakia contracted from 138.4 thousand tons in 2018 to 115.9 thousand tons in 2020. During this period, an EU directive required all aluminium production facilities to obtain permits by October 2018, which affected the operational landscape for existing plants.

A severe energy crisis emerged in 2022, characterized by skyrocketing electricity prices and high costs for emission allowances. This led to the halt of production at the key Slovalco plant in Žiar nad Hronom, drastically reducing domestic output. Concurrent global factors, including the Russian invasion of Ukraine, exacerbated energy price volatility across Europe, further straining local production economics.

With domestic production crippled, imports surged to compensate, driving the market volume to a peak of 166.0 thousand tons in 2023. By 2024, the market volume receded to 137.1 thousand tons as import growth stabilized, while production remained low amid ongoing volatility in electricity and emission allowance prices, and uncertain financial support for major recyclers like Heneken.

Production unwrought aluminium in Slovakia

In value, 2017-2020, M $ US

Slovakia's unwrought aluminium production declined for the second consecutive year. In 2020, output was valued at 364.4 million US dollars, marking a significant 19.9% decrease from the previous year. Over the 2017-2020 period, production fell by 18.9%, with an annualized decline rate of 6.7%. The highest value was recorded in 2018 at 511.9 million US dollars, which also saw the largest increase of 14.0%.

Annual dynamics of production in Slovakia in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Slovakia's unwrought aluminium production declined for the third consecutive year. In 2020, the country produced 196.3 thousand tonnes, showing a modest 9.0% reduction compared to the previous year. Between 2017 and 2020, production decreased by 10.6%, equivalent to an annualized decline rate of 3.7%.

Annual dynamics of production in Slovakia in kind, 2017-2020, K t

Exports unwrought aluminium from Slovakia

Exports in kind, K t

After two years of growth, Slovakia's unwrought aluminium exports declined. In 2020, exports amounted to 151.0 thousand tonnes, representing a 15.2% year-on-year decrease. Between 2017 and 2020, exports fell by 8.9%, with an annualized decline rate of 3.1%. The peak was reached in 2019 at 178.1 thousand tonnes, which also recorded the largest increase of 4.4%.

Annual dynamics of product's exports from Slovakia in kind, 2017-2020, K t

From 2017 to 2020, Hungary (21.2% of exports in kind), Poland (20.9%), and Italy (16.1%) emerged as the main markets for Slovakia's unwrought aluminium exports, collectively accounting for 58.2% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Slovakia in kind, 2017-2020

Exports in value, M $ US

Slovakia's unwrought aluminium exports declined for the second consecutive year. In 2020, exports totaled 293.1 million US dollars, indicating a sharp 24.3% drop from the previous year. Between 2017 and 2020, exports decreased by 18.5%, with an annualized decline rate of 6.6%. The highest value was recorded in 2018 at 403.6 million US dollars, which also saw the largest increase of 12.2%.

Annual dynamics of product's exports from Slovakia in value, 2017-2020, M $ US

During 2017-2020, Hungary (21.4% of exports in value terms), Poland (21.0%), and Italy (16.3%) remained the principal buyers of Slovakia's unwrought aluminium, jointly representing 58.7% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Slovakia in value, 2017-2020

Imports unwrought aluminium to Slovakia

Imports in kind, K t

Slovakia's unwrought aluminium imports declined for the second consecutive year. In 2020, imports totaled 70.7 thousand tonnes, down 17.1% from the previous year. Between 2017 and 2020, imports decreased by 20.8%, with an annualized decline rate of 7.5%. The peak was reached in 2018 at 91.7 thousand tonnes, which also recorded the largest increase of 2.8%.

Annual dynamics of product's imports to Slovakia in kind, 2017-2020, K t

From 2017 to 2020, Slovakia's unwrought aluminium imports in kind came from a diverse range of countries, with Czechia (14.6% of imports in kind), Poland (14.1%), and Germany (9.4%) together accounting for just 38.2% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Slovakia in kind, 2017-2020

Imports in value, M $ US

Slovakia's unwrought aluminium imports declined for the second consecutive year. In 2020, imports reached 130.1 million US dollars, showing a substantial 18.0% reduction from the previous year. Over the 2017-2020 period, imports fell by 31%, with an annualized decline rate of 11.6%. The highest value was recorded in 2018 at 200.6 million US dollars, which saw the largest increase of 6.4%. In 2019, imports experienced the largest decline of 20.9%.

Annual dynamics of product's imports to Slovakia in value, 2017-2020, M $ US

During 2017-2020, Czechia (14.0% of imports in value terms), Poland (13.0%), and the United Arab Emirates (10.6%) formed the largest group of suppliers to Slovakia, but their combined share was limited to 37.6% of total import value, reflecting a diversified supplier structure.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Slovakia in value, 2017-2020