The EU is launching an investigation into aluminum imports to protect the block industry from an expected increase in cheap imports displaced by US tariffs, according to media reports, Ing raw material experts, EWA Manthey and Warren Patterson, they point out.
The prices in the US reach a historical record
“The European Commission is ready to announce the investigation on Wednesday. Last week, Donald Trump imposed 25% tariffs on all imports of steel and aluminum. ‘Fariffs recently announced by the US about aluminum will probably further worsen the situation with a significant threat of commercial diversion from multiple destinations,’ says the document.”
“Aluminum prices in Europe have been falling, while prices in the US have reached a historical record. This suggests that some suppliers to the US are already redirecting sales to Europe to avoid Trump tariffs. Europe depends on primary aluminum imports. Its aluminum sector was one of the most affected during the energy crisis, with more than one million tons per year. Some reset have begun in Europe, but a significant capacity is still offline. “
“Although the EU continues to import Russian aluminum, the volumes have fallen in the last two years as European buyers self-save after the invasion of Ukraine. Russia now represents about 6% of European imports of primary aluminum, reducing to half from the levels of 2022. Last month, the EU forbid 275kt for a period of 12 months. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
