Mumbai, 06 Feb (Commoditiescontrol): In 2023, China's aluminium exports to the EU, subject to the bloc's new carbon border tariff, dropped by 30%, reported by the China Nonferrous Metals Industry Association. The decline follows the EU's introduction of the Carbon Border Adjustment Mechanism (CBAM) in October, aimed at reducing imports of higher-emission products to support Europe's green transition. The EU will start imposing CO2 emission charges on imports in 2026, but currently requires importers to report emissions from production of certain goods, including steel, cement, and aluminium.
China, as the leading global producer and exporter of aluminium, saw its targeted exports to the EU decrease to 689,000 metric tons in 2023, a significant reduction from the previous year. This volume represented 9% of China's total aluminium exports. The trade value of these exports also fell by 26% to 22.76 billion yuan ($3.16 billion). The main exported products were aluminium structures, plates, sheets, and strips, with Germany, France, and Italy being the primary EU destinations.
(By Commoditiescontrol Bureau; +91-9820130172)