Brokers expect UK carbon prices to rise
The price of carbon emission allowances in the UK is expected to go up amid expectations that the next government will take tougher action against big polluters, the Financial Times reports. Since Prime Minister Rishi Sunak’s announcement of snap elections in May, the price of allowances on the UK carbon market has risen by 9%. […]
Implementing CBAM in the steel industry: Understanding calculation methods and compliance with EU regulations.
In the context of implementing the Carbon Border Adjustment Mechanism (CBAM) within the European Union, the steel industry faces numerous technical and methodological challenges in calculating and reporting greenhouse gas emissions associated with steel production. This detailed analysis aims to clarify the complexities and provide specific guidance to navigate these requirements efficiently. Context and applicability […]
Eximbank from Turkey secures a 1 billion euro loan to assist exporters in adapting to CBAM.
Turk Eximbank, a state-owned financial institution in Turkey, has recently secured an impressive loan of 1 billion euros as part of a strategic initiative titled “Türkiye Green Export.” This loan, facilitated by a consortium comprising Deutsche Bank, Standard Chartered, BNP Paribas, and ING, marks the largest loan transaction in the bank’s history. Signed at the […]
The EU extends safeguard measures on steel imports for another two years
In the steel industry, the adoption of safeguard measures related to steel imports is a direct response to fluctuations in the global market and the dynamics of production overcapacity, especially in regions that export massively, such as China. Recently, the European Commission announced the extension of safeguard measures for steel imports until the end of […]
Decline in steel production in Turkey and its impact on exports
Turkey is the eighth largest steel producer in the world. Over the past two years, its steel production and exports have declined due to global and internal challenges. Nevertheless, Turkish companies continue to invest in expanding production capacity, relying on domestic market needs. For the second consecutive year, the Turkish steel industry has been on […]
Significant increases in customs duties for imports from China announced by the Biden administration
Biden decides to increase tariffs on electric vehicles, solar panels, steel, aluminum, and other products from China In an effort to protect American industries from what it perceives as unfair competition, the Biden administration has announced significant increases in customs duties for imports from China, totaling $18 billion. President Joe Biden emphasized the necessity of […]
The EU takes action against the dumping prices of Chinese tin-coated steel
The European Commission has initiated a new anti-dumping investigation into imports of tin-coated steel products from China, aiming to restore fair competition for EU producers. The HS codes of the investigated products are 7210701015, 7210708020, 7210708092, 7210908020, 7212402010, 7212408012, 7212408030, 7212408080, and 7212408085. The European Steel Association (EUROFER) has welcomed this initiative. Chinese factories have […]
Combating Subsidies in the Steel Industry: New EU Strategies
The Organization for Economic Co-operation and Development (OECD) has emphasized the need to monitor and regulate subsidies given to steel producers, as these can lead to significant market distortions and increased trade tensions. According to OECD reports, global steel production capacities have significantly increased, and the discrepancies between production capacity and actual output have deepened, […]
The EU will extend anti-subsidy and anti-dumping measures on stainless steel cold-rolled products from Indonesia to include imports from Taiwan, Vietnam, and Turkey
The European Commission has adopted new measures to counteract the circumvention of its anti-subsidy regulations applied to imports of cold-rolled stainless steel (SSCR) from Indonesia. These measures now also target similar imports from Taiwan, Turkey, and Vietnam, with the expansion being a response to the practices of circumventing the initial restrictions. Concurrently, the Commission has […]
Strategic Adaptation to CBAM: How to Efficiently Collect Data from Suppliers
For companies operating within the European Union, compliance with the Carbon Border Adjustment Mechanism (CBAM) is more than an obligation; it’s a strategic opportunity to optimize operations and gain a competitive edge. In this article, we explore methods by which businesses can efficiently collect data from suppliers to report in accordance with new EU regulations, […]