Speak to a specialist

Register and we will customize a solution that meets your exact needs. When you speak to one of our experts, you may be qualified to sample our industry-leading products on a no-cost basis.

You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.
Generic Hero BannerGeneric Hero Banner
Latest market news

German Bundesrat to extend EV tax relief

  • Market: Electricity, Metals
  • 09/10/20

Germany's upper house of parliament, the Bundesrat, is extending the motor vehicle tax relief for electric vehicles (EVs) by 10 years until the end of 2030.

New EVs registered between 18 May 2011 and 31 December 2025 will be exempt from the tax until the end of 2030 — from end of 2020 previously planned.

With this law, the government aims to increase the number of EVs to 7mn-10mn by 2030, the Bundesrat said today.

Registrations of new EVs and plug-in hybrid vehicles have increased significantly after the government introduced a subsidy scheme on 1 July. EV registrations rose to a record high of 21,188 in September, up by around 260pc year on year. Registrations of new plug-in hybrid vehicles climbed to a monthly record of 20,127, up by around 185pc compared with September last year.

By Felicia Grosse

Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
03/04/26

US adds 178,000 jobs in March, jobless rate falls

US adds 178,000 jobs in March, jobless rate falls

Houston, 3 April (Argus) — The US added 178,000 nonfarm jobs in March, a bigger-than-expected gain that followed months of mostly faltering job growth. Payrolls were boosted by "one-time factors," including the end of a healthcare strike and "residual seasonality", Pantheon Macroeconomics chief US economist Samuel Tombs said in a note Friday. "The trend still looks weak." The six-digit growth in payrolls, compared with analysts' estimates of about 60,000 gains, follows downwardly revised losses of 133,000 for February and upwardly revised gains of 160,000 for January, according to the Bureau of Labor Statistics (BLS) on Friday. "The topline payroll number greatly overstates the prewar strength of the job market, and we forecast job growth to slow as the war begins to take a toll on real activity," Oxford Economics' lead economist Nancy Vanden Houten said in a note. Total job growth for full-year 2025 was revised down to just 181,000 jobs from a prior 584,000, BLS reported in February. Annualized average hourly earnings eased to 3.5pc in March from a 3.8pc gain in February. Healthcare added 76,000 jobs in March, more than double the average of 29,000 added in the prior 12 months. Construction jobs added 29,000 in March while transportation and warehousing added 21,000 jobs in March. Leisure and hospitality added 44,000 jobs. Manufacturing added 15,000 jobs last month but were down by 75,000 jobs from March 2025. Mining, quarrying and gas extraction added 1,300 jobs. Federal government employment fell by 18,000 and was down by 355,000 since reaching a peak in October 2024. Jobs in financial activities fell by 15,000. The unemployment rate edged lower to 4.3pc in March from 4.4pc in February. But the decline partly reflected a shrinking labor force, those counted as employed or looking for work. The number of people marginally attached to the labor force, who had not looked for work in the prior four months after looking for a job sometime in the prior 12 months, rose by 325,000 to 1.9mn in March. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Find out more
News

Al Taweelah smelter repair to take up to a year: EGA

03/04/26
News
03/04/26

Al Taweelah smelter repair to take up to a year: EGA

London, 3 April (Argus) — Emirates Global Aluminium (EGA) said repairs at its Al Taweelah smelter may take up to a year after the facility sustained significant damage during an Iranian missile and drone attack on the Khalifa Economic Zone Abu Dhabi on 28 March. "To resume operations at the smelter, EGA must repair infrastructure damage and progressively restore each of the reduction cells," the company said in an update published on 3 April. "Early indications are that a complete restoration of primary aluminium production could take up to 12 months." Iran hit the facility on 28 March , injuring several employees. Iranian steelmakers Khouzestan Steel (KhSC) and Mobarakeh Steel were struck by air raids attributed to the US and Israel on 27 March , damaging storage facilities and power infrastructure, officials said. Iran was preparing retaliatory strikes on Gulf steel producers, according to the Tasnim news agency, which is linked to the Islamic Revolutionary Guard Corps. Al Taweelah produced 1.6mn t of cast metal in 2025, according to EGA. EGA is a major bauxite importer, bringing in 11.15mn t in 2025 and 10.65mn t in 2024, according to Kpler data, and is a significant Capesize charterer. Some vessels destined for Al Taweelah are currently delayed because of the de facto closure of the strait of Hormuz. The Amarantos , which loaded in Takoradi, Ghana, on 20 February, has been idling between Mozambique and Madagascar for several days and has since been redirected to Kandla, India, Kpler data show. The Clivia Oldendorff , carrying Ghanaian bauxite, remains idling between Mozambique and Madagascar, according to Kpler. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

Iranian done hits Kuwaiti power and desalination plant

03/04/26
News
03/04/26

Iranian done hits Kuwaiti power and desalination plant

Dubai, 3 April (Argus) — A power and water desalination plant in Kuwait sustained "material damage" as a result of an Iranian attack in the early hours of Friday, the country's electricity ministry said. The ministry did not disclose which specific facility was hit, saying only that "some components" were damaged in the attack. The ministry did not immediately respond to a request for comment. Kuwait has eight major power plants dotted along its coast, the majority of which also include desalination units that supply a significant portion of the emirate's fresh water. This is the second attack on Kuwait's power and desalination facilities in less than a week. A service building at an unnamed power and water desalination plant sustained "significant material damage" in an attack in the early hours of Monday . Iran has been responding to US and Israeli strikes on its territory, facilities and infrastructure by launching missiles and drones against targets in Israel and across the Mideast Gulf. Iran's armed forces regularly claim they are targeting regional assets and facilities that have links with Israel or the US, but many of the targets being hit clearly do not. Kuwait, in particular, has been experiencing a spike in hits on its critical infrastructure in recent days. The 346,000 b/d Mina al-Ahmadi refinery came under attack for the third time in two weeks early on Friday. The country's 454,000 b/d Mina Abdullah refinery was also struck in the middle of March. Kuwait International Airport has also been repeatedly struck by Iranian drones over the past month. Fuel depots were most recently hit on 1 April and 25 March, while the airport's radar system was struck on 28 March. Kuwaiti airspace has been closed since the start of hostilities on 28 February. Seven overhead power lines in several parts of Kuwait were also taken out of service late last week after debris falling from intercepted drones damaged the network. This caused partial power outages in some parts of the country. By Nader Itayim Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

US trade deficit widens in February

02/04/26
News
02/04/26

US trade deficit widens in February

Houston, 2 April (Argus) — The US trade deficit widened by 4.9pc in February as imports, including capital goods linked to the buildout of artificial intelligence (AI), grew faster than exports. The US trade deficit in goods and services rose to a seasonally adjusted $57.3bn in February from $54.7bn in January, the Bureau of Economic Analysis (BEA) reported Thursday. The deficit in goods rose to $84.6bn in February from $82.1bn in January, while the services surplus fell by $0.2bn to $27.3bn. Total US exports in February rose by 4.2pc to $314.8bn while imports rose by 4.3pc to $372.1bn. Exports of goods rose by $11.5bn to $206.9bn in February, led by shipments of non-monetary gold and industrial supplies including natural gas. Imports of goods rose by $14bn to $291.5bn in February, with capital goods imports up by $7.8bn and crude oil imports up by $1.1bn. "February's jump in imports was relatively broad-based, although imports of computer equipment and semiconductors leapt again, due to the ongoing surge in AI-related capex," Pantheon Macroeconomics said in a note. Exports of services increased by $1.2bn to $106.7bn, and services imports rose by $23bn to $79.3bn. Yearly trade gap shrinkage Still, the deficit in February shrank by more than half from $120bn a year earlier. But that could change with the Mideast Gulf war and the US high court's striking down President Donald Trump's tariffs. "The shake-up in tariff policy following the Supreme Court decision in late February, and disruptions to global supply chains due to the US-Iran war, could trigger more turbulence in the trade data," Oxford Economics' US economist Grace Zwemmer said in a note. The dollar index has climbed from 99.3 on 27 February, the day before the US-Israel war on Iran began, to 99.9 on Thursday, although it is down from 103.7 in early April last year. A stronger dollar makes US imports cheaper, while making exports less competitive. The US trade deficit edged higher to $911bn last year from $904bn in 2024, with the goods deficit rising to $1.24 trillion in 2025 from $1.215 trillion the prior year. Petroleum trade slows US exports of crude and petroleum products, including natural gas liquids, fuel oil and others on an end-use basis, totaled $20.6bn in February, little changed on the month, with imports at $16.8bn in February, up from 15.5bn in January, the report said. Exports of crude averaged 4.3mn b/d in February, up from 3.9mn b/d in January, with imports at 6.35mn b/d in February from 6.1mn b/d in January. Partners The US had a $16.5bn seasonally adjusted deficit with Vietnam in February, a $16.8bn shortfall with Mexico and a $13.1bn deficit with China. The US ran a $5.1bn deficit with the EU and a $7.6bn deficit with South Korea, a $4.7bn deficit with Japan and a $3.2bn shortfall with Germany. The US deficit with Canada narrowed to $741mn in February from January. The US had a $5.6bn surplus with the UK, a $6.8bn surplus with the Netherlands and a $3.8bn surplus with central and south America that included a $1.5bn surplus with Brazil in February. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

News

New furnaces to support Italian steel power demand

02/04/26
News
02/04/26

New furnaces to support Italian steel power demand

London, 2 April (Argus) — Rising steel demand and upcoming furnace expansions within Italy's highly electrified steel sector could increase the country's industrial power consumption. But high energy prices in the wake of the US-Iran conflict may limit sector growth. Italy is the second-largest steel producer in Europe, after Germany. It has the most electrified steel industry in the region, with 90pc of production coming from secondary steel made from scrap processed in electric arc furnaces in 2024, compared with an EU average of 45pc, according to steel association Federacciai. The country had 26 electric arc furnaces with a combined capacity of 23.9mn t/yr at the end of 2025, according to independent research body Global Iron and Steel Tracker ( see capacity graph ). Italy's wholesale power prices are consistently among the highest in Europe and prices have risen further since the onset of the US-Iran conflict, owing to Italy's strong gas marginality. Italy's second and third quarter power contracts were up by 39pc at the end of March compared with the end of February. Italian firms are constructing new electric furnaces that are expected to start operating in the next few years, which could increase steel sector electricity demand. Producer Acciaierie Venete announced a new 100t electric arc furnace in Padova, expected to be operational by this summer and projected to produce 750,000 t/yr of steel. This furnace alone would consume about 500 GWh/yr of power, assuming energy consumption of modern electric arc furnaces is around 670 kWh/t, based on steel output and power demand recorded in 2025. Fellow Italian steel producer Metinvest aims to break ground at a site in Piombino in central Italy by mid-2026. The new mill will have two electric arc furnaces and 2.7mn t/yr of hot-rolling capacity for low-emissions hot-rolled products, with production targeted for 2029. These furnaces would add a further 1.8 TWh/yr of power demand. And steelmaker Acciaierie d'Italia plans to phase out Italy's only coal-fired blast furnaces at its Taranto plant and replace them with electric furnaces. The firm's Taranto facility has operated below full capacity for more than 10 years and was placed under extraordinary administration in February 2024. The Italian government has put the Taranto assets up for tender, requiring any buyer to commit to replacing the furnaces with electric ones, with authorisation for 6mn t/yr. Private equity firm Flacks Group has been selected as the preferred bidder, proposing a plan for 4mn t/yr. The switch to electric furnaces was scheduled for 2027, but doubt has been case over the future of the Taranto site owing to production issues and a court order mandating a shutdown because of health concerns. State of play Italy's steel sector accounted for 42.4pc of total power demand from energy-intensive sectors in 2025, at 13.8TWh. This marks a 3.7pc increase from the previous year, according to transmission system operator Terna ( see sectoral graph ). Italy's crude steel output rose by 3.6pc to 20.7mn t in 2025, Federacciai data show. Steel power demand fell by 10pc on the year in 2022 and was stagnant over 2023-24 but turned to growth in 2025 ( see long-term demand graph ). Monthly power demand has consistently increased year on year since July 2025, driven by increased production in anticipation of higher steel demand in 2026 ( see monthly graph ). Steel sector power demand reached 1.3TWh in February, up by 3.7pc on the year, mirroring a 2.6pc increase in crude steel output to 1.9mn t. EU steel demand is forecast to rise by 1.3pc to around 134mn t in 2026, according to European sector association Eurofer. And the EU plans to cut import quotas for flat steel from 1 July. Italy is a major importer of flat steel so the lower quota could boost domestic production. Energy efficiency in the sector increased over 2015-21, with consumption falling from roughly 800 kWh/t to below 700 kWh/t, data from Federacciai show. But power demand per ton of output has been slowly edging up since 2021. Geopolitical worries The Italian government has taken steps to insulate industry from power price increases, but geopolitical risks continue to influence prices. Italy launched its Energy Release Scheme late last year, offering electricity to energy-intensive users at a fixed price of €65/MWh in exchange for commitments to develop renewable capacity and return equivalent power over 20 years. But high energy costs will continue to weigh on steelmakers this year, Eurofer director-general Axel Eggert said, pointing to the impact of the Middle East war on gas markets after the Dutch TTF benchmark moved above €50/MWh in early March. Italian steel and scrap association Assofermet flagged the conflict as a source of potential additional cost pressures in an already volatile market. "Operating complexity and growing concerns related to the Carbon Border Adjustment Mechanism (CBAM) and the upcoming entry into force of the new safeguard measure are significantly weighing on the market," it said. The rollout of the CBAM — which raises import costs — will be accompanied by a gradual reduction of free allowances under the Emissions Trading System, from which energy intensive industries have long benefited. As free allocations decline, steelmakers will need to buy more allowances, adding further cost burdens. By Ilenia Reale Electric arc furnace capacity by country mn t/yr Sectoral breakdown of industry power demand % Steel power demand, 12-month trailing average TWh/m Power demand vs steel output, monthly Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Related Products

Argus Rare Earths Analytics Service

Argus Rare Earths Analytics Service

Rare earth price forecasts with short and long-term views supported by detailed market fundamentals for trade, supply and demand
Find out more

Argus Line Pipe

Argus Line Pipe

Price assessments, outlooks and market-moving commentaries, news and analyses for the line pipe market.
Find out more

Argus Carbon

Carbon price benchmarks, policy and project news, and deep analysis, on a daily basis.
Find out more

Argus Low Carbon Hydrogen Strategy Report

Part Three: Americas. An in-depth analysis of the key sectors, countries and policies enabling hydrogen growth. 
Find out more

Argus Hydrogen and Future Fuels

Costs, prices, news and analysis for the hydrogen and P2X sectors

Find out more
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more