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The carbon border adjustment mechanism (CBAM) regulations and import safeguards are impeding the day-to-day operations of European and Italian steel companies.
Problems with completing CBAM reports, the economic impact anticipated from the mechanism beginning in 2026, and European safeguard measures in place since 2018 are a concern for many members of the association.
The association, which represents Italian distributors of scrap, raw materials and steel products, has held discussions with the relevant institutions in Brussels and Rome. Particularly, in mid-January of this year, Assofermet met with two relevant European Commission directorates.
According to the association, they received assurances that their point of view, especially regarding the future evolution of CBAM, would be taken into account.
The association also noted the open attitude of the Italian authorities to the problems of the steel supply chain arising from regulation and the willingness to continue the dialogue on the regulatory framework.
As GMK Center reported earlier, companies that had difficulties submitting their first report under the cross-border carbon adjustment mechanism due to technical issues with the relevant registry were given the opportunity to postpone it for one month. During the transitional phase, importers had until January 31, 2024, to submit declarations for the fourth quarter of 2023.
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