CBAM: How to sell new steel tariffs with green hydrogen utopias

CBAM: How to sell new steel tariffs with green hydrogen utopias – Stainless Cappuccino

The European Union is to become CO2 neutral by 2050. With its “Fit for 55” plans and the “European Green Deal”, the European Commission has set ambitious targets. 55% emission reduction by 2030 and CO2 neutral by 2050. In addition, the Carbon Border TAX CBAM (Carbon Border Adjustment Mechanism) is still planned to intercept dirty products at the border to the EU and to impose a CO2 price.

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EU Steel 2021: used by the lobby, not supported by reality

EU Steel 2021: used by the lobby, not supported by reality – Stainless Cappuccino

On May 5, 2021, the European Commission (EC) published an update to its 2020 New Industrial Strategy. Under the motto: “Building a stronger Single Market for Europe’s recovery”, the Commission wants to lead Europe out of the crisis.

Surprisingly, hidden in the bowels of this strategy update was a Commission Staff Working Document (CSWD) entitled “Towards competitive and clean European steel”. Which, of course, we couldn’t help but take apart for you.

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Jobs at risk: Terrible stainless steel shortage 2021 continues

Jobs at risk: Terrible stainless steel shortage 2021 continues – Stainless Cappuccino

Aided by the Corona pandemic, serious structural problems in the global production, supply and distribution of steel and stainless steel have been evident since November 2020. European and American steel producers no longer manage (or do not want to manage) to fully supply their markets. In addition, the USA and EU have imposed strict import restrictions which make it almost impossible for most stainless steel purchasers to reliably buy material abroad.

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BMWi: How the German Federal Ministry of Economics influences (world) steel policy

BMWi: How the German Federal Ministry of Economics influences (world) steel policy – Stainless Cappuccino

According to the German Federal Ministry of Economics and Energy (BMWi), Germany was the world’s seventh-largest steel producer in 2019, with 39.6 million tons. Of these nearly 40 million tons of steel, 20 million tons were exported in flat steel. With a total turnover of 32.8 billion euros and 84,000 steelmakers directly employed in 2019, it belongs to the basic industry, according to the Federal Ministry.

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Green Steel and CBAM: Or how the steel producing industry is artificially kept alive

Green Steel and CBAM: Or how the steel producing industry is artificially kept alive – Stainless Cappuccino

In a test vote, the EU tried to gauge how a Carbon Border Levy would be received by European parliamentarians. By 444 votes to 70 (181 abstentions), this vote was in favor of introducing CBAM (Carbon Border Adjustment Mechanism). EUROFER, the lobby organization of European steel producers, has expressly welcomed this in a recent statement. Reason enough for us to take a closer look at the whole issue.

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