EU curbs scrap aluminium as Big Tech backs Anthropic - Nov 18, 2025

As of November 18, today’s news is dominated by significant developments in the aluminium sector and influential moves within the technology landscape, particularly focusing on investment in artificial intelligence. The European Commission plans to restrict EU exports of scrap aluminium, to stop the metal flooding out of the bloc and leaving its industry short of an input required to decarbonise, EU trade chief Maros Sefcovic said today. EU exports of aluminium scrap hit a record 1.26 million metric tons in 2024, industry group European Aluminium says, up about 50% from five years ago, with most heading to Asia. Meanwhile, Microsoft and Nvidia plan to invest in Anthropic under a new tie-up that includes a 30 billion dollars commitment by the Claude maker to use Microsoft's cloud services, the latest high-profile deal binding together major players in the AI industry. Nvidia will commit as much as 10 billion dollars to Anthropic and Microsoft up to 5 billion dollars, the companies said today, without sharing more details including on the timeline. In related news, Nexans has initiated a share buyback program involving a maximum of 128,000 shares, expected to run from November 18, 2025, to February 28, 2026. Meanwhile, shares in ABB fell today after the Swiss engineering group kept its sales targets unchanged, with analysts saying investors may have hoped for more ambitious growth, even as the company raised its profitability goals. Furthermore, Rio Tinto will reduce output at its Yarwun alumina refinery by 40% starting in October 2026 to extend the plant’s life, responding to high costs and market conditions that have impacted alumina prices which are presently near two-year lows. Internationally, comments from former U.S. President Donald Trump during a high-profile visit with Saudi Crown Prince Mohammed bin Salman highlight ongoing discussions about strengthening ties between the two nations, although significant breakthroughs in diplomatic relations appear unlikely.