Battaini: Prysmian turns tariffs into U.S. advantage - Oct 22, 2025

As of October 22, today’s news is dominated by Prysmian CEO Massimo Battaini’s interview with The Wall Street Journal, where he discussed the company’s strategic response to global trade tensions and shifts in commodity markets. Interviewed by The Wall Street Journal, Prysmian CEO Massimo Battaini said the company has increased its use of recycled copper in the U.S. to about 60%, up from 10-15% before the introduction of tariffs in April. The shift was driven by trade tensions and China’s retreat from the scrap market. Recent acquisitions strengthened Prysmian's footprint in the U.S. - including a copper rod mill in Texas that allows it to process both primary copper and copper scrap so that the company produces in the country almost everything it sells, Battaini said. This gives the company a competitive advantage in the new environment created by tariffs, he add. These initiatives supported a 40% rise in Prysmian share price over the last three months. Battaini also noted that the U.S can't avoid importing metals like copper and aluminum. The production of aluminum in the U.S. satisfies only 35% of the local demand. It will probably take 20 years and billions of dollars in investment to get the capacity to be self-sufficient in aluminum, he add. Meanwhile, Rio Tinto is exploring a potential asset-for-equity swap with Chinalco that would trim the Chinese investor's 11% stake, freeing up Rio to resume buybacks and pursue new strategic deals, three people familiar with the matter told Reuters. Turning to market updates, aluminium prices soared to their highest point since June 2022, reaching 2,821 dollars a metric ton on the London Metal Exchange amid fears of potential supply shortages exacerbated by ongoing U.S.-China trade negotiations. Analysts suggest the price stability above 2,800 dollars could signal a bullish trend moving towards 2,950 dollars. In the technology domain, Tesla is poised to report strong third-quarter results, driven by a surge in electric vehicle sales ahead of the expiration of a substantial federal tax credit. CEO Elon Musk's strategy to introduce more affordable model trims will likely be closely watched by investors as the company seeks to attract new customers in both the U.S. and overseas markets. Amid these developments, the impact of U.S. political maneuvers on sectors like offshore wind is becoming apparent, with significant losses reported among U.S. shipbuilders and port operators.