Overview
Metlen Energy & Metals executive chairman Evangelos Mytilineos warned that Europe is losing a strategic raw material to the United States because of a tariff gap. Speaking on CNBC’s Squawk Box Europe on Monday, he highlighted that European aluminium scrap exports to the United States have risen 243 %.
Tariff Disparity
Mytilineos explained that the United States applies a 50 % tariff on primary aluminium imports but imposes zero tariff on aluminium scrap, creating a significant incentive for European producers to ship scrap to the U.S. He noted that the standard Section 232 aluminium action, which levies a 50 % rate on EU aluminium imports, does not cover scrap, further widening the competitive gap.
Corporate Context
Metlen, which shifted its primary listing to London in 2025, operates the European Union’s largest vertically integrated bauxite‑alumina‑aluminium chain. The company is expanding into critical raw materials and has recently launched Europe’s first gallium production facility.
Strategic Concerns
In a LinkedIn post following the interview, Mytilineos reiterated that while Europe aims to decarbonise and boost recycling, it simultaneously allows a valuable strategic material to exit the continent. He also argued that Europe’s economic model—historically based on affordable energy, large export markets, and U.S. security guarantees—may no longer be sustainable under current conditions.
Implications
The chairman’s comments underscore a potential shift in global aluminium supply dynamics, suggesting that European manufacturers could face reduced competitiveness unless tariff policies are aligned or other strategic measures are adopted.