Metlen Chairman Warns EU Losing Strategic Aluminium to US Tariff Gap

3-line summary

• Metlen chairman Evangelos Mytilineos said in a CNBC 'Squawk Box Europe' interview and LinkedIn post Monday that a gap in US tariff policy is allowing Europe to lose strategic raw materials to the US even as Europe pushes to expand recycling; European aluminium scrap exports to the US have risen 243%, as the US imposes a 50% tariff on primary aluminium imports under Section 232 measures but exempts scrap from that duty.
• Mytilineos argued that Europe's industrial competitiveness depends on retaining resources its industries need, and that the scrap outflow threatens both competitiveness and decarbonization goals by reducing domestic recycling-feedstock supply; the article did not give specific figures for scrap pricing or export tonnage.
• Metlen, which moved its primary listing to London in 2025, operates the EU's largest vertically integrated bauxite-alumina-aluminium production chain and is expanding into critical minerals, including starting Europe's first gallium production; Mytilineos said Europe's economic model had relied on cheap energy, large export markets, and US security guarantees, assumptions he said no longer hold.

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