Search Results for: border tax

European aluminum producers object to inclusion in carbon border tax

Government interference, even for the best of reasons, can have market-distorting effects. Take, for example, calls by European aluminum producers to be excluded from the European Union’s Carbon Border Adjustment Mechanism (CBAM) carbon border tax proposal. Do you know the five best practices of sourcing metals, including aluminum? European aluminum producers want out of CBAM […]

European steel producers clamor for early adoption of carbon border tax

Brussels must feel a little like the Dutch boy with his finger in the dike when it comes to emissions. No sooner do you create a solution to one problem – costing carbon dioxide emissions – than you create another – putting your domestic industries at a global disadvantage. The Financial Times reported on calls […]

UK to Impose Carbon Tax for Steel and Aluminum Production

UK to Impose Carbon Tax for Steel and Aluminum Production

HM Treasury recently announced that the UK plans to enact a carbon tax on certain metals and natural resource imports into the country by 2027. The December 19 announcement said that steel, aluminum, and iron ore will be subject to the tax. This tax is currently known as the Carbon Border Adjustment Mechanism (CBAM). “Goods […]

India and China Plan to Discuss Carbon Tax with the EU

India and China Plan to Discuss Carbon Tax with the EU EU Carbon tax to be discussed between EU, India and China

Both India and China continue to denigrate the Carbon Border Adjustment Mechanism (CBAM), or “carbon tax” as it has come to be known, proposed by the European Union. Meanwhile, the EU claims the new scheme is integral to its plan to achieve zero emissions across six earmarked industries. The new tax regime recently moved into […]

Steel: To Tax or Not to (carbon) Tax

Global public opinion seems divided on whether or not to impose a “carbon tax” on the metal and mining sector. This goes double for steel. Depending on which side you’re listening to at a given moment, you’ll get very different opinions on the matter. Many economists, environmentalists, and the general public welcome the idea. The […]

Kazakhstan unrest offers price support, but president’s call for higher mining taxes could have stronger price impact

Human and political rights activists have been suffering escalating repression in the former Soviet state of Kazakhstan. The result has been widespread rioting and the reported death of over a hundred protestors this month. The protests kicked off with rises in liquefied petroleum gas (LPG) prices but stem from extreme inequality and corruption in the […]

EAI Votes not to Support Carbon Tax Adjustment

Efforts to reduce Europe’s carbon footprint are many and varied, including in the European aluminum sector. Energy-intensive industrial processes like steel, aluminium and cement manufacturing make up a significant chunk of carbon emissions. A carbon tax as crafted in the EU’s Carbon Border Adjustment Mechanism (CBAM) is seen as a major plank in shutting out […]

Week in Review: Global steel production rises; record April for auto sales; China aluminum imports remain elevated

Before we head into the weekend, let’s take a look back at the week that was and the metals storylines here on MetalMiner, including rising global crude steel production, automotive sector developments and much more: You want more MetalMiner on your terms. Sign up for weekly email updates. Week of April 26-30 (global steel production, […]

European steelmakers are at a challenging crossroads

European steelmakers are at a challenging crossroads

Europe’s steel industry appears to be at a crossroads. Hurting before the coronavirus pandemic-induced lockdowns, the industry struggled with overcapacity, high costs, weak demand and competition from lower-cost sources (like China and Russia). The lockdowns decimated demand. Major consumers, like the automotive sector, which takes something like 20% of European production of flat-rolled steel, according […]

European Aluminum Industry Faces Existential Threats

European Aluminum Industry Faces Existential Threats EU and chipping containers

The European aluminum manufacturing industry is under attack from two short- and medium-term threats, both of which have the potential to significantly impact aluminum consumers across the region. Threat #1: Potential Russian Aluminum Ban, Aluminum Manufacturing Shortage The first threat is the widely debated possibility of the EU banning Russian aluminum. While the UK has […]

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