Chinese steelmakers coordinate response to EU’s carbon-linked import imposts

China’s leading steelmakers are stepping up coordinated efforts to adjust export strategies, compliance systems and pricing models in response to this year’s full implementation of the EU’s tariff-like Carbon Border Adjustment Mechanism (CBAM), which imposes direct carbon-linked costs on imports.“China’s indirect steel exports to the EU are substantial, and a significant portion consists of high value-added products,” said Jiang Wei, vice-chairman and secretary general of the China-iron-and-steel-association" class="entity-link entity-organization" data-entity-id="118516" data-entity-type="organization">China Iron and Steel Association, during an industry meeting held online earlier this month. “As CBAM expands downstream, the transmission effects along the industrial chain will be further amplified.”At the meeting, more than 100 steelmakers and upstream and downstream stakeholders focused on the practical challenges arising from CBAM implementation. Key concerns included emissions factor recognition, pre-verification procedures, testing methodologies and data security.