Sales & Markets
Tariffs, prices and policy-sensitive demand
Where pricing power is real, where volume risk is building, and which customer projects depend on Washington.
US revenue under Sec. 232/301
62%
€1.18bn
Midwest Al premium
$0.82/lb
▲ 4% w/w
Customer capex sentiment
41 / 100
▼ 6 post-election
Policy-sensitive pipeline
€310m
38 opportunities
US tariff map by product line
| Product family | Authority | Rate | Pass-through | Landed cost Δ |
|---|---|---|---|---|
| Aluminium sheet & plate | Sec. 232 | 50% | Medium | +31% |
| Extrusions & profiles | Sec. 232 | 50% | Low | +34% |
| Copper busbar & rod | Sec. 232 | 50% | High | +22% |
| Specialty alloys (via Canada) | IEEPA / Canada | 35% | Low | +27% |
| Steel pipe for LNG | Sec. 232 | 50% | Medium | +29% |
| Battery-grade materials | Sec. 301 | 25% | High | +12% |
Relevant signals
All signals →11-0411-0511-0311-0511-04
Democrats win House and Senate; divided government confirmed
bothstrategicPolitical structure
Democratic leaders move to claw back Section 232/301 tariff authority
opportunitymediumTrade & tariffs
Midwest aluminium premium remains near record; PPI +48.5% since Feb 2025
bothimmediateMarkets
Alaska LNG ($54.4bn) and allied power investments may be delayed
riskstrategicEnergy & Iran
33 of 34 anti-data-center ballot initiatives succeed
bothstrategicState regulation
Business exposure
Aluminium semis & alloys
Product · US Midwest · Section 232, Midwest premium
€41m
elevatedAutomotive OEM & Tier-1
Customer segment · Michigan / Ontario · Tariffs, Canada routing
€17m
elevatedConstruction & building systems
Customer segment · US South · Prices, Rates
€6m
watchData-center electrical buyers
Customer segment · Virginia / Texas · Ballot initiatives, Grid allocation
€4m
watchLNG & power project pipeline
Project · Gulf / Alaska · Permitting, Allied FIDs
€12m
watchDecisions linked to this area
Decision log →Adopt 4-scenario US planning frame for 2027 budget
In reviewCFO · due 20 Nov 2026 · €165m EBIT range
Introduce tariff-adjustment clauses in 2027 US contracts
PendingSales Director · due 28 Nov 2026 · €14–41m protected
Re-prioritize LNG/power project pipeline
DeferredCEO · due 10 Dec 2026 · €120m revenue
Actions in progress
Draft tariff clause with LegalIn progress
Legal — R. Ahmed · due 21 Nov 2026
Customer pass-through analysis top-25 accountsIn progress
Sales Ops — K. Novak · due 19 Nov 2026