Investing.com -- The executive chairman of Metlen Energy & Metals has warned that Europe is losing strategic raw materials to the United States because of a gap in U.S. tariff policy, as the continent simultaneously pushes to increase recycling.
Speaking on CNBC's Squawk Box Europe on Monday, Evangelos Mytilineos said European aluminium scrap exports to the US had risen 243%, pointing to a tariff structure that imposes 50% on primary aluminium imports while applying no tariff to scrap.
"Europe cannot pursue industrial competitiveness while allowing the resources needed for that industry to flow elsewhere," he said.
Aluminium scrap is excluded from the standard Section 232 aluminium action, which applies a 50% rate to EU aluminium imports.
In a post on LinkedIn following the interview, Mytilineos stated: "Europe wants to decarbonise and increase recycling, yet we allow a valuable strategic raw material to leave our continent."
"At the same time, the United States imposes a 50% tariff on primary aluminium while applying zero tariff to scrap and of course European Al scrap exports to the US have gone up by 243%," he added. "Europe cannot pursue industrial competitiveness while allowing the resources needed for that industry to flow elsewhere."
Metlen, which moved its primary listing to London in 2025 and operates the EU's largest vertically integrated bauxite-alumina-aluminium chain, has been expanding into critical raw materials, including the first gallium production in Europe.
Mytilineos also argued that Europe's economic model had depended on affordable energy, large export markets and U.S. security guarantees, conditions he said could no longer be assumed.
Original Article
Metlen chairman warns EU losing strategic aluminium to U.S. tariff gap
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