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EUROFER: CBAM to preserve steel supply chain in EU

17 Mar 2021 15:26 reported by Iona Chen

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The European Parliament voted to implement the carbon border adjustment mechanism (CBAM). The European Steel Association (EUROFER) expected it will preserve the steel supply chain for the EU.

The EUROFER said that the CBAM will be worked with the existing carbon emission control measure to reduce the pressure of products and prices confronted by the downstream industry.

The EU steel industry has been developing and adopted low carbon steelmaking technology. However, the EUROFER indicated that the carbon emission control measure will be more likely to succeed under the appropriate market surrounding.

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