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
Gulf shipping crisis disrupts India’s Mn alloy exports
Gulf shipping crisis disrupts India’s Mn alloy exports
Mumbai, 5 March (Argus) — The mounting war in the Middle East has disrupted trade flows for India's manganese alloy sector, creating one of the most challenging operating environments in recent years with shipping suspensions, rising freight and mounting cost pressures. India typically supplies 500,000-600,000t of manganese alloys annually to the UAE, Turkey, Egypt, Qatar, Oman, Bahrain and Saudi Arabia. Most carriers have halted services to Europe, north Africa and the Middle East because of security threats and soaring insurance premiums, stopping shipments from Indian exporters. Monthly flows of around 40,000–50,000t have now effectively stopped, and shipments have been completely stalled for nearly 15 days. Freight is the single largest disruption. The diversion of vessels around the Cape of Good Hope to avoid the Suez Canal for shipments to Europe has further strained logistics because of security and insurance complications. Ships that once completed two voyages in 60-70 days can now complete only one, tightening vessel availability and extending delivery timelines for bulk commodities. The strait of Hormuz, long considered more influential than many stock exchanges in shaping global commodity sentiment, is again acting as a major volatility trigger, lifting fuel-related and freight-linked costs, an exporter told Argus . Imported manganese ore costs are also rising, with freight from some origins climbing from $50-60 to $100-125 per container, while other routes are now near $1,000 per container. At the producer level, margin pressure is intensifying. Rising energy costs are eating into profitability while freight volatility directly undermines export competitiveness. The weakening rupee offers some relief to exporters through higher realisations, but the simultaneous rise in import costs for manganese ore and energy inputs offsets this benefit. The sudden freeze could leave excess material trapped in the domestic market, adding downward pressure on prices even as producers face cost inflation. Buyers are delaying contracts because of uncertainty about price direction amid the volatility, leaving much of the market in a wait-and-see mode. The sector faces a prolonged stretch of logistical strain, with exporters recalculating margins and delivery risks and carriers avoiding key shipping corridors. There are expectations that freight costs may rise further. Container rates that previously ranged $1,000-1,600 could rise as high as $4,000 a box if the conflict continues, some market participants said. Freight rates could rise by 30-50pc if the war continues, traders said. The loss of Middle Eastern demand and the likely buildup of domestic supply could exert downward pressure, making any immediate price increase in manganese alloys unlikely, traders said. The broader outlook remains fluid, with volatility set to persist, while efficiency, captive power and strategic risk management become more critical in the long term. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Asian scrap trading stalls on geopolitical uncertainty
Asian scrap trading stalls on geopolitical uncertainty
Shanghai, 5 March (Argus) — Activity on Asian ferrous scrap markets are expected to decline as a result of the escalating conflict between the US and Iran, causing growing concerns among steelmakers on finished steel sales. But some Japanese traders anticipate trade flows to increase within Asia. Spot trading activity was thin this week, because both buyers and sellers stepped back to assess the impact of the conflict in the Mideast Gulf on commodity markets. Asian ferrous markets are not directly exposed to potential logistics disruptions, but many scrap participants chose to stay on the sidelines given tighter vessel availability, rising freight costs, increasing production costs, volatile exchange rates and unclear direction in the steel market. Scrap sellers were cautious to update offers without first securing vessels. Freight rates received by a Japanese trader this week were only slightly higher by $3-4/t from last week because the routes are within Asia, the trader said. But offers are quite limited, and shipowners will raise rates further if fuel costs continue to climb, they added. In addition to higher freight rates, Japan's firm domestic market further challenged export negotiations. Tokyo Steel increased domestic collection prices by $12.70-15.80/t over 19 February-3 March in an effort to retain more scrap in the local market. Some Japanese traders expect demand from south Asian countries for Japanese scrap to increase if disruptions around the strait of Hormuz reduce supply flows from the Middle East. Pakistan imported 1.23mn t of scrap from the UAE in 2025, while India imported 510,000t from the UAE in the same year, according to Global Trade Tracker (GTT) data. South Asian buyers need to source alternative supply to meet their production demand, a Japanese trader said. Meanwhile prices in some Asian markets like Taiwan, where mills typically prefer to make weekly procurements, have started to rise this week. Offers for containerised HMS 1/2 80:20 have risen as high as $330/t this week, up by approximately $10/t from the last traded price in the week of 23-27 February. Argus assessed the HMS 1/2 80:20 containerised scrap price at $225/t on 4 March, marking a $5/t increase on the day. Weaker steel demand to pressure scrap Potential weakness in steel sales is also weighing on Asian steelmakers' scrap procurement. The Middle East was an important market for Chinese steel products in 2025. Higher freight rates will affect shipments of previous orders and new sales of finished and semi-finished steel products from Asia to the Middle East. Some producers may redirect supply to Asian markets, intensifying regional competition. Asian scrap buyers are also concerned that steel prices may not rise in line with raw material costs because elevated steel prices could dampen downstream demand. March-May is typically the peak construction season across many southeast Asian markets. If the US-Iran conflict persists longer than expected, higher crude oil prices could fuel inflation expectations and heighten growth risks in many economies, market sources said. Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US adds critical minerals to focus in Venezuela
US adds critical minerals to focus in Venezuela
Caracas, 4 March (Argus) — US interior secretary Doug Burgum is discussing mining and the critical minerals supply chain with Venezuelan officials in Caracas, the US embassy in Venezuela said today. Burgum is making contact with "US and Venezuelan businesses, and will work for a legitimate mining sector and safe value chain of critical minerals", the embassy said. The US has claimed management of Venezuela's major commodities in the wake of its arrest of former president Nicolas Maduro on 3 January. Burgum will visit for two days, and will also discuss general energy topics including oil, interim president Delcy Rodriguez said in a joint appearance with the secretary. Venezuela's government plans to soon present a legislative proposal to open its mining sector to more investment, similar to what it did recently in its hydrocarbons sector, Rodriguez said. Venezuela has said it has large untapped deposits of critical minerals, although specific data is limited. It has also struggled with widespread illegal mining and smuggling. Trump praised interim president Rodriguez, previously Maduro's vice-president, in a social media post on Wednesday, saying she is "working with U.S. Representatives very well". Venezuela continues to produce about 1mn b/d of crude, but Trump has vowed that US oil investment will soon boost output, adding that the "Oil is beginning to flow". By Carla Bass Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US court orders refunds on Trump's IEEPA tariffs
US court orders refunds on Trump's IEEPA tariffs
Washington, 4 March (Argus) — A federal court has ordered President Donald Trump's administration to begin processing refunds on tens of billions of dollars in emergency tariffs the US Supreme Court said last month were unlawful. US Customs and Border Protection (CBP) must recalculate final duties owed on "any and all" imported goods without including the tariffs that Trump imposed under law called the International Emergency Economic Powers Act (IEEPA), Richard Eaton, a judge on the US Court of International Trade, wrote in a three-page decision on Wednesday. Eaton, who said he is the only judge on the court hearing IEEPA tariff refund cases, said the Supreme Court's decision that struck down Trump's emergency tariffs should provide across-the-board relief, even to those that had not filed lawsuits. Thousands of companies have already filed lawsuits seeking refunds of the IEEPA tariffs, which collected an estimated $175bn from importers during the nearly one-year period when Trump had them in effect. "All importers of record whose entries were subject to IEEPA duties are entitled to the benefit of the Learning Resources decision," Eaton wrote, referencing the name of the Supreme Court's tariff ruling. The court's order does not explicitly lay out the refund process, but instead applies to customs entries that are "unliquidated" — those that are pending — and those that are liquidated but not yet final. The order, issued as part of a tariff refund lawsuit an air filtration product company filed less than a week ago, suggests that courts intend to move quickly on refunds after the Supreme Court's 6-3 ruling finding Trump had no authority to impose his emergency tariffs. Earlier this week, a federal appeals court denied a request by the Trump administration for a months-long delay in court proceedings over tariff refunds, allowing tariff lawsuits to resume in the Court of International Trade. Trump previously said the refund process might take "years" to resolve in court. The Trump administration told Eaton this week it was still considering "next steps" for the Supreme Court opinion, including the mechanics and "scope" of refunds. As of Wednesday, CBP said it had not paid refunds on any of the IEEPA tariffs. In a court filing earlier on Wednesday, the administration conceded that it would have to also pay interest on any tariff refunds it is required to make. The cumulative interest payments on the refunded tariffs could reach $700mn each month, according to calculations the think tank Cato Institute published this week. US senator Ed Markey (D-Massachusetts), in a letter on Wednesday to administration officials, said that the Trump administration's "dithering" on tariff refunds had created an opening for those on Wall Street to offer small companies with immediate cash needs "pennies on the dollars" to purchase their tariff refund rights. Further delaying tariff refunds would result in "more pain" for US companies and their customers, he wrote. By Chris Knight Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.