29 January 2026 – Poland is calling on the EU to intervene against Ukraine’s steel scrap export ban – despite having sought to restrict steel imports from Ukraine itself as recently as October 2025. Copper prices surge sharply, while aluminium and nickel also post gains. Did India get short-changed on steel in the EU-India FTA? Criticism of the increasingly authoritarian leadership style of Commission President Ursula von der Leyen continues to grow.
Copper Prices Surge Sharply
Copper prices rose by more than 6.5% today on the Shanghai Futures Exchange (SHFE). On the London Metal Exchange (LME), copper reached a new all-time high, trading above USD 13,900 per tonne.
According to analysts, the price surge is driven by a weaker US dollar against the euro and by speculative capital rotating out of gold and silver into alternative commodities.
Nickel and Aluminium Futures Also Move Higher
Nickel (+1.8%) and aluminium (+2.9%) prices also posted gains on the SHFE. In London, nickel was last trading at around USD 18,700 per tonne, while aluminium climbed to its highest level in a year, exceeding USD 3,300 per tonne.
Steel Scrap: Europe’s Double Standards
For years, European steel and aluminium producers have sought to restrict, or entirely halt, exports of steel and aluminium scrap from the EU. A prominent example is the revised EU Waste Shipment Regulation, which already severely limits scrap exports to non-OECD countries. In parallel, a highly controversial political initiative is currently underway in which the European Commission, at the urging of domestic producers, is attempting to impose export restrictions on aluminium scrap.
Poland Calls on the EU to Intervene Over Ukraine’s Scrap Export Ban
At the same time, the EU is quick to adopt a moralising stance when other countries seek to retain their own steel scrap or raw materials domestically.
As media reports indicate, Poland has urged the European Commission to intervene against Ukraine’s steel scrap export ban, which has been in force since early January. According to Warsaw, the ban threatens the competitiveness of Polish steel producers.
Poland: Scrap Yes – But No Steel from Ukraine
As recently as October 2025, Polish industry associations were vocally demanding stricter limits on steel imports from Ukraine. This combination of positions offers a textbook example of the double standards underpinning European industrial policy.
EU-India FTA: Did India Get Short-Changed on Steel?
According to media reports, the EU and India have agreed – under their much-praised free trade agreement – on a steel import quota of just 1.6 million tonnes per year. This would correspond to only around 43% of India’s steel exports to the EU in 2024.
It remains unclear whether this figure represents the final agreed quota or merely the preferred outcome of EU Trade Commissioner Maroš Šefčovič.
If India has indeed accepted such a low quota, it has either been outmanoeuvred – or has received substantial concessions from the Commission in other areas.
Commission distorts Article XXVIII
Under Article XXVIII of the 1994 GATT Agreement governing the introduction of tariff-rate quotas, such quotas should at minimum reflect the average import level of the previous three years. In India’s case, this would amount to roughly 3.4 million tonnes of steel.
The European Commission’s questionable interpretation of Article XXVIII with regard to the proposed steel tariffs and tariff rate quotas is therefore likely to trigger further debate among WTO members. It remains to be seen whether all EU trading partners – particularly those without free trade agreements – will be as willing as India appears to be to waive their contractual rights.
Criticism of Commission President von der Leyen Intensifies
Tensions have once again emerged between Commission President Ursula von der Leyen and EU High Representative Kaja Kallas. According to Politico, Kallas reportedly referred to von der Leyen internally as a “dictator” and complained that there was little that could be done against this style of leadership.
Von der Leyen has repeatedly faced sharp criticism over her leadership style in recent years. Even before leaving office, former EU Ombudsman Emily O’Reilly levelled serious accusations against the Commission President. In a Politico interview in December 2024, she criticised growing opacity within the Commission and spoke of a “mafia-like network” of unelected technocrats steering the EU.
Kallas and von der Leyen have clashed repeatedly in the past over issues of authority and leadership.
Most recently, it also emerged that the European People’s Party group in the European Parliament intends to impose significantly harsher sanctions on its own members should they fail to support Ursula von der Leyen’s political line.
Thorsten Gerber, CEO of the Gerber Group, commented today: “I can fully support Ms Kallas’s position. The way certain parts of the Commission operate is, in my view, increasingly perceived as authoritarian. Urgent action is needed here.”
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