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How Much Carbon Tax will China Steel Industry Have to Pay to the EU in the Future?
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2023-06-20
The director of the Institute of Metallurgical Industry Planning of China said that although CBAM has been officially approved, the calculation method of the actual price paid for carbon emissions from steel products is not yet clear. Therefore, the annual carbon tariff that Chinese steel industry will have to pay to the EU after CBAM is implemented cannot be accurately estimated, and can only be roughly calculated based on the materials available and the understanding of the EU carbon market. Based on CBAM rules that have been issued, considering the annual volume of steel products exported from China to the EU (e.g., 3.89 million tons in 2022), as well as the total amount of steel products exported to the EU (e.g., US$6.44 billion in 2022), and the carbon price in the EU carbon market, a preliminary estimate shows that the export cost of the Chinese steel industry will increase by 4%-6%. Roughly USD$200 million to US$400 million per year in carbon tax will have to be paid to the EU.
中國鋼鐵
歐盟
碳關稅
中國冶金工業規劃研究院
范鐵軍院長
Chinese steel
EU
CBAM
the Institute of Metallurgical Industry Planning of China
director
