EUROFER: CBAM will keep the EU steel supply chain

The European Parliament voted to implement a Carbon Boundary Adjustment Mechanism (CBAM). The European Association of Steel Producers (EUROFER) expected it to maintain the EU's steel supply chain.

EUROFER said CBAM will work with existing carbon controls to reduce the pressure on products and prices facing the downstream industry.

Steel industry The EU develops and implements technology for the production of low carbon steel. However, EUROFER indicated that a carbon control measure is more likely to be successful given the appropriate market environment.