The EU Emissions Trading System (ETS) has entered Phase IV, which has seen further tightening of the regulations for EU steel mills. Meanwhile, CO2 allowances have been trading on the ETS at prices of almost €100/t of CO2 in 2022, and the Fit for 55 package proposed by the European Commission will likely drive prices further upwards and phase out free allowances for the EU steel industry. All these developments will have profound consequences for European integrated steel mills, but also for mining companies and other suppliers to the EU steel industry. In addition, the Fit for 55 package is looking to develop a Carbon Border Adjustment Mechanism, which in the future may require foreign steel mills exporting steel to the EU to report their emissions and pay import charges based on the ETS system. The ETS is also considered a template for other countries to follow or even to join in the future.
SteelConsult International has published a unique study “CO2 emissions and ETS costs of the European integrated steel industry: Outlook to 2035”, providing unrivalled insight into the carbon footprint and ETS costs of the European integrated steel industry.
Key features of the study:
Key questions answered in the study:
In total, subscribers will receive:
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