February 2026 marked a period of unprecedented regulatory volatility for the global secondary aluminium and scrap markets. Driven by a confluence of tariff upheavals, aggressive decarbonisation mandates, and stringent environmental crackdowns, the traditional flow of aluminium scrap is being fundamentally redrawn. As the United States implements sweeping new import surcharges, the European Union weighs restrictive export measures, and Southeast Asian hubs like Malaysia tighten their borders against contaminated materials, market participants are facing mounting compliance costs and disrupted arbitrage windows. This review examines the key policy shifts that defined the ex-China aluminium recycling sector this month and their immediate implications for global trade flows.
The United States: How the 10 per cent surcharge disrupts secondary aluminium
Following the United States Supreme Court’s ruling, which invalidated Trump’s IEEPA tariffs on February 20, 2026, many trade goods found themselves navigating a complicated and chaotic new regulatory landscape. Within hours of the ruling, President Trump pivoted to Section 122 of the 1974 Trade Act, levying a 10 per cent blanket global import surcharge that went into effect on February 24, replacing the former country-based tariffs. There have also been threats made by President Trump to raise this surcharge to the statutory maximum of 15 per cent, which could further disrupt global trade and U.S. imports.
