09.06.2019 kl 10:00 1546
A recent OECD report titled Measuring distortions in international markets: the aluminium value chain between the years of 2013 and 2017, shows the unequal playing field that smelters have to face. According to the organization, over the past several years China has been significantly subsidizing electrical costs – amongst other generous aids – for its aluminium smelters. The total sum of these market-distorting mechanisms is found to be in excess of US$70 billion, 85 percent of which was distributed to a quintet of mainly upstream producers (such as Hongqiao, Henan Shehuo, SPIC, Chalco). By contrast, European smelters received very little support in the same timeframe. As Jehan Sauvage, Policy Analyst at the OECD and lead author of the report points out, rules promulgated by the EU and the EFTA make state aid to smelters in the form of inexpensive power a dicey proposition.
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