The October 1 implementation of CBAM (Carbon Border Adjustment Mechanism) has caused several challenges for European sellers. Customs are not prepared with a ready system and dealers have not been given clear instructions, sources said. In Germany, there was confusion due to uncertainty over the implementation of CBAM.
Meetings with companies in the Middle East emphasized that they are well prepared for CBAM and are making efforts to measure emissions in detail. However, he also underlined that CBAM means extra workload for buyers.
Unesid (the Spanish Association of Companies Producing Steel and Primary Steel Processing Products) has expressed concern about the lack of a competent authority in the country to manage CBAM-related issues. EU steel market participants are concerned about the unpredictability of carbon costs when implementing CBAM and the accuracy of emissions information provided by traders.
Despite the statements issued by the EU Commission, steel industry representatives believe that there may be problems in implementing the cross-border carbon adjustment mechanism.
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