9 February 2026 – The “Buy European” proposal put forward by French EU Vice-President Stéphane Séjourné is meeting little enthusiasm across many EU member states. Germany’s Minister for Economic Affairs, Katherina Reiche, has now also categorically rejected the idea. Aluminium markets remain tight, with demand continuing to outstrip supply. Base metals in Asia posted gains on Monday.
Aluminium: Demand Continues to Meet Tight Supply
Aluminium prices have risen steadily for several months, even though minor corrections followed a peak in January 2026. The underlying driver remains a steadily improving demand environment colliding with globally constrained supply.
After some turbulence last week, aluminium prices started Monday’s trading session with modest gains.
US Aluminium Premiums at a New Record High
Premiums for spot aluminium in the United States have moved in only one direction since the expansion of Section 232 tariffs in early 2025: upwards. Last week, Aluminium Premium Duty Paid US Midwest surged to a new all-time high of USD 2,291.70 per tonne (USD 1.0395 per lb).
Other Asian base metals also started the week on a positive note. Nickel rose by 1.5%, copper gained 1.8%, while tin posted the strongest increase on Monday at 6.6%.
“Buy European” Proposal Meets Little Enthusiasm
There is admittedly little to praise about the current German federal government, which we consider among the weakest in recent history – actual economic data more than supports this assessment. That said, when something deserves recognition, it should be acknowledged accordingly.
German Economy Minister Rejects “Buy European” Proposal
Germany’s Minister for Economic Affairs and Energy, Katherina Reiche, has publicly rejected the proposal by French European Commission Executive Vice-President Stéphane Séjourné to introduce mandatory “Buy European” quotas.
Speaking to German news agency DPA, Reiche stated: “Europe’s response to global competitive challenges cannot be isolation.” She added that Europe needs simpler rules, more investment, and less bureaucracy-alongside strong international partnerships.
France at the Forefront of Protectionist Policy
Only days earlier, Séjourné had argued in a opinion commentary that companies seeking access to public procurement, direct state aid, or other forms of financial support should be required to carry out a substantial share of their production “on European soil.”
What he failed to mention is that France would be the primary beneficiary of such a protectionist approach – while other EU member states, such as Ireland, would face significant disadvantages. The proposal for an expansion of steel tariffs, as well as the EU’s CO2 border tax CBAM, were likewise driven largely by French political interests.
Nine EU Member States Warn Against “Buy European” Policy
In December 2025, an alliance of nine EU member states – Czechia, Estonia, Finland, Ireland, Latvia, Malta, Portugal, Sweden, and Slovakia – formally opposed a “Buy European” policy in a non-paper submitted to the Commission in Brussels.
These countries warned that such a policy could have severe negative effects on competition, pricing, quality standards, and domestic businesses.
Commission Regulation Proposal Repeatedly Delayed
The Commission’s draft regulation for the Industrial Accelerator Act, which is expected to include the “Buy European” provisions and was originally due in December 2025, has already been postponed twice. It is now expected only toward the end of February 2026.
This is a clear sign that the France-driven protectionist agenda pursued by the Commission is beginning to encounter substantial resistance.
We therefore fully support Minister Reiche’s position and strongly urge that it become the official stance of Germany’s Chancellor and the federal government as a whole – rather than being diluted or destroyed once again by socialist fantasies or political coercion games emanating from Berlin or Brussels.
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