Downstream weekly recap: UK to levy carbon tax on aluminium and steel from 2027

This week, the downstream sector of the aluminium industry witnessed a lot of significant updates. To begin with, starting in 2027, the United Kingdom will levy a carbon border tax on imports of critical industrial resources such as aluminium, iron, steel, ceramics, and cement. Another important event was Hindalco signing a battery-grade aluminium foil supply deal with US-based lithium-ion firm C4V. This collaboration will strengthen the firms' trade contacts, assuring an ongoing supply of coated aluminium foils, battery-grade aluminium foil, and other structural elements for Li-ion batteries. Blackboxstocks Inc., located in Dallas, stated that it has formally agreed to purchase Evtec Aluminium Limited (Evtec). The transaction is expected to close in the first quarter of 2024. The European Union said on December 19 that it will prolong the suspension of its rebalancing duties on US exports until March 31, 2025. This decision comes as the US suspends its responsibilities on the EU, considering previous trade levels represented in the Tariff-Rate Quota (TRQ) mechanism established in January 2022.

The United Kingdom is set to introduce a carbon border tax starting in 2027 for imports of key industrial materials, including aluminium, iron, steel, ceramics, and cement. This initiative mirrors the European Union's approach and aims to factor in the carbon emissions linked to manufacturing imported goods.
To know more: https://bitly.ws/372eE
The establishment of Hindalco's battery foil manufacturing unit in Odisha might be the motivation behind C4V's forging of a contract with one of the largest aluminium manufacturers in India. This partnership will enhance trade relations between the companies, ensuring an uninterrupted flow of coated aluminium foils, battery-grade aluminium foil and other structural parts for Li-ion batteries.
To know more: https://bitly.ws/372eL
Dallas-based Blackboxstocks Inc., which combines financial technology and social media to provide real-time proprietary analytics for stock and options traders, announced that it has officially agreed to acquire Evtec Aluminium Limited (Evtec). The acquisition is anticipated to be completed during the first quarter of 2024.
To know more: https://bitly.ws/372f6
On December 19, the European Union announced that it would extend the suspension of its rebalancing tariffs on US products until March 31, 2025. This decision comes in return as the United States also prolongs the suspension of its tariffs on the EU, considering the historical trade volumes reflected in the Tariff-Rate Quota (TRQ) system established in January 2022.
To know more: https://bitly.ws/372fh
Henan Zhongzhou Aluminium, one of the prominent manufacturers of aluminium alloy plates and coils in Series 1xxx, Series 3xxx, and Series 5xxx, was honoured with the pilot enterprise of industrial wastewater recycling 2023 in Henan Province. The China-based company is the only aluminium-related firm on the list.
To know more: https://www.alcircle.com/news/henan-zhongzhou-aluminium-honored-with-the-pilot-enterprise-of-industrial-wastewater-recycling-award-2023-104362
On December 19, 2023, the European Union prolonged its trade truce with the United States for an additional 15 months. This extension averts the automatic imposition of tariffs on trans-Atlantic trade valued in billions of euros, which would have otherwise taken effect on January 1, 2024.
To know more: https://www.alcircle.com/news/brussels-and-washington-extend-aluminium-and-steel-trade-truce-defusing-new-year-tariff-threats-104339
The State Intellectual Property Office issued a notice declaring the identification of a brand new round of national intellectual property demonstration enterprises and advantageous enterprises for the year 2023. As per the review process conducted, Huajian Aluminium was recognised as one of the "National Intellectual Property Advantageous Enterprises in 2023".
To know more: https://www.alcircle.com/news/huajian-aluminium-is-recognised-as-the-2023-national-intellectual-property-advantage-enterprise-104330
China-based Shandong Hongcan Material Technology initiated the first production stage for its large-scale, lightweight, integrated aluminium die-casting project. With a total investment of RMB 1.7 billion and a capacity to produce 3 million pieces annually of 8 different kinds of precision aluminium alloy structural components, the project was put into production on December 12.
To know more: https://www.alcircle.com/news/first-phase-of-shandong-hongcan-materials-rmb1-7-billion-aluminium-die-casting-project-put-into-operation-104346
Lippert Components Manufacturing, a subsidiary of LCI Industries (Lippert), entered into a strategic alliance with Euramax for Mobility, Europe's leading supplier of aluminium products for recreational vehicles (RVs). This new alliance will result in the formation of a joint venture called Amerimax for Mobility.
To know more: https://www.alcircle.com/news/amerimax-the-new-joint-venture-of-lippert-and-euramax-to-supply-aluminium-cladding-materials-for-rvs-104328
The Xinshen Aluminium Technology lightweight phase II project commenced operations on December 8. The total investment for the completion and operation of the project amounts to approximately RMB 200 million. This includes implementing three intelligent production lines, which consist of high-efficiency and energy-saving constant speed forming units, a combined quenching system utilising wind and water mist, a rapid and precise gradient heating furnace, and other equipment.
To know more: https://www.alcircle.com/news/second-phase-of-xinshen-aluminiums-rmb200-million-project-launched-successfully-104325