6 March 2026 – Prices for steel from Europe continue to rise. EU steel producers are demanding what amounts to an “unconditional basic income” from the Commission. High CBAM costs: the Dutch Parliament calls on the government to take action.
Steel Prices in Europe Continue to Rise
European steel producers have raised prices several times in recent weeks. Now one of the larger manufacturers in the United Kingdom has followed suit and, according to media reports, increased the price for hot-rolled coil by nearly USD 170 per tonne, citing rising costs.
On the European continent, the higher prices can largely be traced back to hidden premiums linked to the launch of the Carbon Border Adjustment Mechanism.
Asian base metals traded mostly sideways on Friday. A slight decline in aluminium prices appears to be linked to profit-taking ahead of the weekend. The London Metal Exchange opened trading on a positive note. The LME Nickel, for example, rose by more than 1.5%.
EU Steel Producers Demand an “Unconditional Basic Income”
Once again, a proposal from the Commission does not go far enough for European steelmakers. This time the criticism targets the Industrial Accelerator Act, presented on 4 March by Executive Vice-President Stéphane Séjourné.
The list of demands from domestic steel producers, who in recent years have already lobbied billions of euros in new subsidies into their own pockets, is long.
Steel Producers Demand Guaranteed Market Share
Among other things, large multinational corporations are calling for what effectively amounts to an unconditional basic income: binding quotas in public procurement for the use of low-carbon steel melted and poured in the EU.
A 5% share of the total steel market is not enough for them. They want more – and threaten to withhold major investments if their demands are not met.
This is a textbook example of what large steelmakers are ultimately pursuing: their own interests. Any other company, especially SMEs, seeking to participate in public procurement would, under a “Melt and Pour EU” low-carbon steel quota, be exposed to the pricing power and discretion of domestic steel producers.
CBAM Costs: Dutch Parliament Calls on Government to Act
The rushed introduction of CBAM has created major challenges for many companies in the EU.
Key cost components-especially those with financial relevance-remain unknown, because real and validated CO2 emissions data will not exist until 2027. Many companies are therefore forced to rely on the excessively high CBAM default values that the Commission increased again at the end of 2025.
Many of these new default values are now three to four times higher than those used during the CBAM transitional phase from 2023 to 2025.
The verification of actual emissions starting in 2027 could also prove difficult due to a shortage of accredited verifiers.
Dutch Parliament Demands Solutions
This serious problem has now finally been recognised by the parliament of an EU member state. The House of Representatives of the Netherlands this week passed a motion with a large majority calling on the government to develop and present a solution within four months together with companies affected by CBAM and the European Commission.
This development is explicitly welcome, particularly given that CBAM is closely associated with the legacy of former Dutch Commission Vice-President Frans Timmermans, who introduced CBAM shortly before returning to Dutch politics as a personal election gift.
EU Member States Must Act Now
Other EU member states should see this as an important signal to act immediately and subject CBAM to a thorough review.
The German government in particular has repeatedly been informed about the problems associated with CBAM. Nevertheless, it has so far failed to take any meaningful action.
Thorsten Gerber, CEO of the Gerber Group, said today: “I recently made this very clear to representatives of the German federal government. No previous government has treated small and medium-sized enterprises as badly as the current one.”
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