News in EU market stainless steel policy

The EU’s environmental requirements for the stainless steel industry are becoming increasingly stringent. In order to promote green production and sustainable development, the EU has formulated a series of environmental regulations and standards, requiring stainless steel enterprises to reduce energy consumption and emissions in the production process.

Implementation of the Carbon Border Adjustment Mechanism (CBAM): From October 1, 2023, the EU began to implement the transitional policy of the Carbon Border Adjustment Mechanism (CBAM). The mechanism is designed to respond to the Carbon Leakage Mechanism (CLM) and the Electricity Tariff Offset Mechanism (ETS) by imposing a carbon price differential on commodities with a high carbon emission intensity entering the EU. For products with high carbon emissions, such as stainless steel, the implementation of CBAM will increase their import costs, which in turn may affect the price of stainless steel in the EU market. However, the implementation of CBAM also provides stainless steel enterprises with the impetus to transform and upgrade. By adopting more environmentally friendly production technologies and processes, and reducing the intensity of carbon emissions, companies can reduce the additional costs brought by CBAM and gain a competitive advantage in the market.

The EU is committed to promoting industrial upgrading and technological innovation in the stainless steel industry. Through the provision of R & D funding, tax incentives and other policy support to encourage enterprises to increase R & D investment, the development of new products, new technologies and new processes. EU stainless steel industry actively participate in international cooperation and exchange activities, and share experience and technical achievements with counterparts in other countries and regions. By strengthening international cooperation, the EU stainless steel industry can expand the international market, improve product quality and service level, and then enhance its competitiveness in the global market.