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The European Steel Association (EUROFER) and the business community warn that without change, this mechanism will encourage imports and put pressure on European producers, according to the consulting firm GMK Center.

European producers are increasing pressure on European Union (EU) regulators to expand the Carbon Border Adjustment Mechanism (CBAM) to include downstream production, including steel and aluminum products. This view was stated in a joint statement by industry associations led by EUROFER.

The document emphasizes that the current CBAM model only applies to basic raw materials and does not cover a significant portion of the value chain. As a result, the import of finished products not subject to this mechanism is creating a competitive advantage for foreign suppliers while increasing pressure on domestic producers.

According to assessments by associations, this situation creates a risk of "carbon leakage" shifting to downstream segments and could lead to deindustrialization in certain sectors. At the same time, it erodes investment incentives for decarbonization and reduces the effectiveness of EU climate policy.

EUROFER's position also received support from major market corporations. Steel companies including ArcelorMittal, Thyssenkrupp, and Voestalpine pointed out the risk of circumventing CBAM regulations through the import of finished products.

Simultaneously, representatives from the steel distribution and processing sectors emphasized the need to expand this mechanism to a wider range of products to protect the domestic market.

Similar signals are also coming from the aluminum industry. Companies in this sector have warned of the risk of losing processing capacity if current regulations remain in place.

The statement emphasized that the expansion of CBAM needs to be implemented quickly and cover key segments of the processing sector to ensure a level playing field throughout the entire value chain.

According to the GMK Center, the European business community generally agrees that without further improvements, the mechanism will fail to function properly and may even exacerbate structural problems in the industry instead of solving them.

Source: Vietnambiz