Europe’s fight to build a local EV and battery supply chain
The recent announcement of funding for 47 strategic project, in line with the EU’s CO2 targets for carmakers in force this year, suggests progress. But after the EU’s tariffs on Chinese EVs, and the US waging its own trade war with China, is Europe’s road to electrification faltering?
Join the Argus Battery Materials team — editor Tom Kavanagh, reporter Chris Welch and analyst Dylan Khoo — in discussing what lies ahead in this fast-evolving market.
Key topics covered:
- The EU’s €22.5bn for 47 critical minerals projects
- China’s investments in Europe’s EV supply chain
- What might a US-China trade war mean for Europe?
- Will the EU meet its CO2 targets for 2035?
Related news
Demand fails to lift stainless steel utilisation: ISSDA
Demand fails to lift stainless steel utilisation: ISSDA
Mumbai, 10 March (Argus) — India's stainless steel capacity utilisation remains below potential despite strong infrastructure-led demand, because subsidised and low-grade imports continue to undercut domestic producers, according to the Indian Stainless Steel Development Association (ISSDA). The health of India's stainless steel value chain must be assessed on structural fundamentals rather than production volumes alone, ISSDA president Rajamani Krishnamurti told Argus . Infrastructure-led demand in India is rising strongly, yet domestic capacity utilisation remains below potential. This reflects distorted market conditions in which subsidised and low-grade imports consistently undercut higher-quality domestic output, Krishnamurti said. Even facilities capable of producing global-standard material are operating below optimal levels despite healthy underlying demand. Dependence on imported raw materials remains another structural challenge, he said. India continues to rely on imported inputs even though stainless steel is fully recyclable and retains intrinsic value through scrap recovery. Strengthening the domestic scrap ecosystem would not only reduce import reliance but also support circularity, resource efficiency and decarbonisation goals. The lowest-cost (L1) tendering model prioritises immediate savings over durability and lifecycle performance. Shifting to life-cycle cost analysis (LCCA) in public procurement would reward higher-quality materials, improve infrastructure longevity and provide clearer demand signals for domestic producers, Krishnamurti said. Policy interventions have begun addressing some of these distortions. Recent measures, particularly quality control orders (QCOs), have strengthened market standards by ensuring that material entering the country meets minimum safety and performance thresholds. These rules have helped curb inflows of substandard and non-prime steel, which often lacks adequate corrosion resistance for India's varied climatic conditions. Anti-dumping and safeguard duties have provided some relief, but pricing dynamics remain distorted because of enforcement gaps and continued circumvention. This forces technologically advanced domestic producers to compete primarily on price rather than performance, undermining long-term infrastructure outcomes. As long as tenders are awarded solely to the lowest bidder, lower-grade imports are likely to continue capturing market share regardless of lifecycle performance, he said. Supply security and export pressures Securing ferro-chrome supply is another priority for the sector, Krishnamurti said. Global volatility in energy and logistics has exposed the risks of external dependence for this key alloying element. Krishnamurti proposed a three-pillar strategy: prioritising domestic value addition through local conversion of chromite reserves, integrating renewable captive power to stabilise production costs, and building strategic reserves supported by stronger internal logistics to safeguard infrastructure projects against global supply disruptions. External trade barriers are also reshaping export prospects, he said. The EU's decision to reduce duty-free quotas by nearly 47pc and impose tariffs of about 50pc beyond those limits has made the region commercially unviable for large parts of the year. The bloc's Carbon Border Adjustment Mechanism (CBAM) further raises the landed cost of Indian stainless steel, even for efficient producers. These developments increase pressure on India to accelerate the shift toward lower-carbon production, Krishnamurti said. At the same time, India's expanding domestic infrastructure pipeline could absorb some export volumes, while emerging markets in the Middle East, southeast Asia and Africa offer growth opportunities with fewer trade barriers. The sector needs greater adoption of scrap-based and renewable-powered production, a dedicated national stainless steel policy and wider use of LCCA in procurement frameworks to support demand for higher-quality material, Krishnamurti said. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazilian steel slab exports double in February
Brazilian steel slab exports double in February
Sao Paulo, 6 March (Argus) — Brazilian steel slab exports more than doubled in February, led by gains in shipments to the US and EU, reflecting Brazil's advantage under the EU bloc's low-emissions policy. Total slab exports rose to 835,327 metric tonnes (t) last month, up from 384,170t a year earlier, customs data showed. Shipments increased to nearly all current destination markets in the Americas and Europe. Exports to EU member states surged to 210,000t, up from 50t a year earlier. Demand for Brazilian slab in Europe rose, underpinned by the country's relatively low default emissions values under the EU's Carbon Border Adjustment Mechanism (CBAM). Production issues at European mills also supported the increase, as they turned to South American subsidiaries to cover supply gaps. Italy was the only EU country to import Brazilian slab in February 2025, but this year trade resumed with four other member states. France ranked as the primary EU destination with 73,171t, while Brazilian mills shipped 60,647t to Spain, according to customs data. The US remained the largest buyer of Brazilian slab, as shipments to the country rose by 54pc to 536,940t compared with 348,595t the year prior. Demand for imported slab held firm despite 50pc tariffs on steel imports, as elevated downstream steel prices continued to offset higher import costs. Tight domestic supply, with several US mills facing production constraints, has supported prices and sustained import demand, sources said. Part of the surge in US imports in February may reflect shipments that were delayed in January, when exports to the US had virtually dried up. Shipments to other Latin American countries also increased as the region extended safeguard measures against Asian producers. Brazil exported 19,981t to Colombia, up from zero a year before. A Brazilian steelmaker increased exports to its own rolling mill in Mexico to 46,571t from nil a year earlier. By Isabel Filgueiras and Aaron May Brazilian slab exports t Country Feb 2026 Feb 2025 Difference ±% US 536,940 348,595 188,345 54.0 France 73,171 0 73,171 100.0 Spain 60,647 0 60,647 100.0 Mexico 46,571 0 46,571 100.0 Poland 40,514 0 40,514 100.0 Germany 28,832 0 28,832 100.0 Peru 20,325 8,954 11,371 127.0 Total 835,327 384,170 451,157 117.4 Brazil's ministry of development, industry and foreign trade data compiled by Global Trade Tracker Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Mexican steel trade down on tariffs in Jan
Mexican steel trade down on tariffs in Jan
Houston, 6 March (Argus) — Mexican steel imports and exports fell sharply on the year in January in response to both the US' and Mexico's own steel import tariffs, the latest data from steel chamber Canacero showed. January Mexican steel imports fell by 21pc to 793,000 metric tonnes (t) in January year on year after Mexico imposed import tariffs on more than 1,400 goods from non-trade treaty countries on 1 January. Tariffs on more than almost 300 steel and scrap grades rose to 35pc from a previous range of 0-35pc, depending on the specific grade. Mexico also imposed as low as 20pc and up to 50pc import tariffs on a handful of specific steel and scrap grades. Steel exports fell by 47pc to 166,000t in January compared with January 2025, pressured mainly by the US' announcement of 25pc steel import tariffs on 20 January, which were imposed on 12 March then doubled to 50pc on 30 May. The US remained Mexico's largest buyer of steel but its share of total Mexican steel exports fell to 43pc in January from 79pc in January 2025. Mexican steel production extended a two-year long slide, falling by 16pc to 1.343mn t in January compared to January 2025. Production has been continually hampered by tepid demand since early 2024. Steel consumption also extended losses, falling by 14pc to 1.97mn t in January from the prior-year month. Demand has been pressured since early 2024 on political, then economic, uncertainty and trade tensions with the US. By Marialuisa Rincon Mexican finished steel YTD 000s of metric tonnes, except ±% Jan-26 Jan-25 Difference ±% Production Hot-rolled coil (HRC) 325 328 -3 -0.9% Rebar 283 357 -74 -20.7% Cold-rolled coil (CRC) 229 288 -59 -20.5% Total* 1343 1598 -255 -16% Consumption HRC 397 439 -42 -9.6% Hot-dipped galvanized (HDG) 341 383 -42 -11% CRC 323 380 -57 -15% Total 1970 2290 -320 -14% Imports by country US 298 346 -48 -13.9% Japan 128 168 -40 -23.8% South Korea 99 133 -34 -25.6% Imports by product Alloyed 168 181 -13 -7.2% HDG 116 150 -34 -22.7% CRC 96 119 -23 -19.3% Total 793 1004 -211 -21% Exports by country US 71 248 -177 -71.4% Colombia 18 5 13 260% Canada 17 14 3 21.4% Exports by product Seamless tube 66 63 3 4.8% Rebar 16 21 -5 -23.8% Structural profiles 14 21 -7 -33.3% Total 166 312 -146 -46.8% Source: Canacero Totals include other products than those listed in this spreadsheet. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US sheds 92,000 jobs in Feb, jobless rate ticks up
US sheds 92,000 jobs in Feb, jobless rate ticks up
Houston, 6 March (Argus) — The US unexpectedly lost 92,000 jobs in February while revisions pulled December data into negative territory, evidence the labor market continues to weaken amid policy uncertainty and geopolitical strife. Analaysts were expecting about 60,000 job gains, according to a survey from Trading Economics, so Friday's Bureau of Labor Statistics (BLS) report of a drop comes is seen as a shock. January's data was revised downward by 4,000 jobs to 126,000 while December's was revised by 65,000, pushing that month to a 17,000 job loss. The US economy has been buffeted by President Donald Trump's heavy-handed use of tariffs to extract trade and diplomatic concessions, partial government shutdowns and sticky inflation that keeps lower-earning households from spending. Companies have generally been reluctant to hire amid the ongoing uncertainty and the latest war in the Middle East is only fueling energy inflation and policy uncertainty. The unemployment rate edged up to 4.4pc last month from 4.3pc, but remains at historically low levels. Average hourly earnings rose by 3.8pc in February from a year earlier, compared with 3.7pc in the prior month. Heath care jobs, a leader in recent months, fell by 28,000 in February, affected by strikes at some hospitals systems, following gains of 77,000 in January. Physician offices lost 37,000 jobs, also mainly on the strikes. Federal government jobs fell by 10,000 last month and are down by 330,000 since reaching a peak in October 2024. Manufacturing lost 12,000 jobs last month, with auto manufacturing down by 1,600. Jobs in manufacturing, which Trump has pledged to revive with his use of tariffs, are down by 98,000 since February 2025 and are at their lowest levels in four years. Construction lost 11,000 last month. Mining lost 2,000. Transportation and warehousing lost 11,000 jobs, even as air transport was up by 5,000. Financial activities gained 10,000 jobs after losing 30,000 the prior month. Leisure and hospitality lost 27,000 after losses of 12,000 the prior month. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.