European aluminium sector: Sailing through CBAM, green energy shift, and geopolitical tides amidst market uncertainty
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Update time : 2024-02-05 18:38:38
At this moment, the prevailing buzzword around the European terrain is CBAM, and after raising quite a few eyebrows, it seems to be taking shape. Apart from that, EU nations are not immune to the consequences of shifting to green energy all at once. The current economic slowdown in Germany has affected various industries, and unfortunately, the aluminium industry is not an exception. It is facing significant hardships due to elevated energy costs and the overall economic downturn.
The President of Aluminium Germany (AD), Rob van Gils, announced: "The year 2023 has shown very clearly that the energy transition strategy in its current form is not working. Over-regulation, massive bureaucracy, and a lack of understanding of the importance of industry for prosperity and participation in Germany are damaging acceptance of the need for a clever climate protection policy." There is always a certain cost associated with digitalisation, renovation and transforming operational modes; therefore, with the added pressure of CBAM and other regulatory sanctions, Europe might be walking toward an uncertain future.
