The European Union has begun to monitor the import and export of waste metal raw materials

The European Commission has issued a notice stating that it has activated a customs supervision system to monitor the import and export of waste metal raw materials in the EU, including iron scrap, scrap steel, aluminum and copper.

The European Commission adopted the "Steel and Metals Action Plan" on March 19th to address the competitive pressure faced by the EU's metals industry. One of the key points of this plan is to promote the recycling of metals and reduce carbon emissions in the metals industry, which is in line with the EU's goal of reducing net greenhouse gas emissions by 90% by 2040 compared to 1990. The EU is experiencing a reduction in recyclable metal waste due to "waste leakage" to a third country. The US imposition of a 50% tariff on various steel and aluminum products (excluding scrap) may further lead to a reduction in the supply of scrap metals in the EU.

The European Commission stated that to ensure the EU's metal industry receives sufficient scrap, it will closely monitor the import and export of metal scrap and collect detailed information on the import and export of scrap metals in the EU. The customs supervision system can provide the European Commission with decision-making information to take targeted trade measures, ensuring an adequate supply of metal scrap in the EU region and avoiding shortages of scrap steel resources.

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