CBAM, Scrap Retention and the Coming Two‑Tier Aluminium Market
December 9, 2025 • George Griffiths
Introduction: A Structural Break in Aluminium Three forces are reshaping global aluminium flows: EU CBAM (Carbon Border Adjustment Mechanism) introduces a carbon levy on imported metal, dividing supply into “clean” and “dirty” pools. US tariffs and localisation policies restrict imports based on origin rather than carbon content. China’s 45 Mt[...]