EU tariffs on aluminum boost auto scrap market

The European Union was re-established Tariff on aluminum imports from China By the deadline of 12th July 2022. Action that is already having an impact Car scrap prices, according to a precedent that has touched raw materials and energy carriers in recent months. If you think Russia is the closest alternative to China for supplying semi-finished aluminum products, Recycling of aluminum in all its forms It will further develop the companies Who also deals from auto scrap and other sources.

A growing scrap vehicle market with EU duties on Chinese aluminum

The European Union has raised sanctions again On that day Aluminum imports from China, for extruded and rolled semi-finished products. For example, duties apply to many other products Aluminum alloy rims with 22.3% tax. A move aimed at protecting the internal market would, however, have ramifications for the scrap market. The recycling of aluminum allows it to be reused practically indefinitely, but costs increase if they are not subjected to intermediate treatment and decontamination processes, usually in the same region from which they come. Basically, aluminum What comes from the cans becomes a new ingredient for other cans, aluminum for construction, returns in the same cycle. On the other hand, what is commonly defined as aluminum actually comes in the form of various aluminum alloys with very different properties and areas of application.

The global aluminum market will be worth 256 billion by 2026

According to CSC Compagnia Svizzera Cauzioni, dealing with the following companies active in the industrial sector and disposing of unused ferrous scrap, The impact of tariffs will drive the scrap car market to grow. Due to the increase in the prices of new cars and the 2035 ban, many EU countries are at risk of finding a fleet on the road like Cuba, but without the ban. Led by major aluminum working nations, China is curbing the onslaught India, Russia, Canada, United Arab Emirates, Australia, Bahrain, Norway, USA and IcelandIt does not exclude the need to resort to effective international policies. And according to Lucky Business InsightsRespect Global Aluminum Market It is expected to increase from $159.3 billion in 2021 $256 billion by 2029.

China’s Aluminum Duties: Where They Are Taken

However, that must be said Duties on aluminum from China, In Europe up to About 32%, are not exclusive to the European Union. Anti-dumping duties on Chinese aluminum remain active Also in USA, Canada, India, South Korea, Australia and Vietnam.