By Nikos Psyrakis, CFO ElvalHalcor
Aluminium and copper are of an utmost importance for the modern economy and this is the reason why they have been included in the EU's latest list of both strategic and critical raw materials. These metals play a vital role in the transition to a more sustainable energy system and a greener, more circular economy. They are essential for electric vehicles, renewable energy systems, data centers, defense equipment and modern infrastructure. In other words they are fundamental to the technologies shaping Europe's economic and industrial future.
In recent years, aluminium and copper scrap are increasingly gaining importance as they contribute significantly to the reduction of dependencies, circularity and energy savings. When aluminium and copper are recycled, they can be used again and again without losing their properties. Recycling aluminium uses about 95% less energy than producing primary metal, and copper recycling saves around 85%. This makes recycling not only environmentally essential, but also economically and strategically important.
However, the EU is facing a critical, escalating loss of aluminium and copper scrap driven by high export volumes to third countries, notably China. Without timely action, scrap exports could rise significantly in the coming years, reducing the availability of recycled material for European industry.
Uncontrolled scrap exports directly affect the competitiveness of the European industry, undermining Europe’s industrial future. The recycled metal is processed elsewhere, supporting manufacturing and economic activity in other regions, while European producers face higher costs and greater dependence on imported raw materials.
This is not a theoretical issue. It is something that directly affects how European industry operates.
For ElvalHalcor, as one of Europe’s leading aluminium and copper producers, recycled metal is an essential part of our production process. It allows us to reduce energy consumption, improve sustainability, and remain competitive in global markets.
This is why we are very proactive in raising awareness on the issue.
Elval has contributed to European Aluminium Association efforts calling for measures to address the rising aluminium scrap exports to third countries. Similarly, Halcor has worked closely with other European companies to raise awareness on the importance of copper scrap and suggest solutions to policymakers. These efforts are already producing results as European institutions are demonstrating increased interest to address the issue. Since early 2025 the European Commission is closely monitoring the situation and is ready to consider possible trade measures if needed.
The timing is critical. Europe is investing heavily in electrification, renewable energy, digital infrastructure and defence. All these sectors require large amounts of aluminium and copper.
Recycling can play a major role in meeting the growing demand sustainably—but this can happen only if our valuable secondary raw materials remain available within Europe.
For Greece, the issue is of a major importance since the aluminium and copper sectors are among the country’s strongest export industries.
ElvalHalcor is proud to be part of the effort to defend our scrap. Today, we are the largest copper tube producer in the EMEA region and one of Europe’s leading aluminium rolling companies. Our products are exported to more than 90 countries and are used in industries ranging from energy and transportation to construction and defence.
Our contribution to the Greek economy is significant. According to independent analysis, ElvalHalcor supports around 18,000 jobs, contributes more than EUR 1 billion in economic value and generates substantial public revenues. These numbers reflect more than business performance. They highlight the importance of industrial production for fiscal sustainability, economic resilience, social cohesion and growth.
Looking ahead, the demand for aluminium and copper is expected to continue increasing, driven by electrification, sustainability megatrends, digitalization and defence needs.
This creates both an opportunity and a responsibility.
Europe has the industrial capability, the technology and the experience to lead in sustainable metals production which is at the forefront of the circular economy. This requires measures to mitigate higher production costs, notably in energy, and ensure access to the critical materials needed for production -both primary and secondary.
At ElvalHalcor, we are committed to being part of the solution. We continue to invest in modern production technologies, improve recycling efficiency and support the development of circular value chains. We engage with policymakers and industry partners to ensure that Europe’s industrial base remains strong and competitive.
Our goal is clear: to support Europe’s transition to a more sustainable and resilient industrial future, while continuing to deliver value for our customers, our shareholders and our economy.
For us, recycling aluminium and copper is much more than an environmental priority.
It is a strategic imperative for Europe’s industrial future.