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Climate policy of the European Union will result in sky-high steel prices - expert opinion

Europe / Business and Finance

While the European steel market is showing signs of stabilization and cooling, buyers should get used to higher steel prices, says Iwona Dybal, President of the Polish Union of Steel Distributors.

Climate policy of the European Union will result in sky-high steel prices - expert opinion

According to Iwona Dybal, President of the Polish Union of Steel Distributors (PUDS), steel prices will surely rise in the long term. This is the result of the European Union's climate policy, including the planned introduction of the carbon border control measure (CBAM) and the steel industry's transition to " green " steel, that is, steel that does not emit CO2.

“If we plan to start producing green steel in the next 10 years, and these are the benchmarks, I think that its price will be incomparable with current prices,” the PUDS president predicts.

The first attempts to shift the costs of greening their steel to the consumer are already being made by a number of European manufacturers. Like reported in the Argus agency, the German concern ThyssenKrupp plans to introduce a carbon surcharge of up to 20 euros per tonne under new contracts for the supply of metal products. Earlier, Tata Steel Europe reported a green supplement of € 16 per tonne to base steel prices.

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