JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
According to the China Iron and Steel Association (CISA), the European Cross-Border Carbon Adjustment Mechanism (CBAM) will raise the value of Chinese steel exports by 4-6%. According to China Daily, this will increase metallurgical business expenditures of $200–400 million a year when accounting for certificate fees.
Experts predict that the industry's future efforts will focus on aggressively modernising steelmaking technology, optimising production processes, and boosting waste recycling to achieve the "green" transformation of the energy-intensive steel sector. These actions will assist in addressing the difficulties brought about by the European Community Bank Act and the demands of downstream sectors like the automotive industry, which has an immediate need for environmentally friendly steel.
China has introduced a carbon pricing mechanism, actively building a national unified carbon market compatible with international standards, said Lu Shize, deputy director of the Climate Change Department of the Ministry of Ecology and Environment.
According to experts, the key support areas for modernisation and green transition for the Chinese steel industry are to promote stable growth, accelerate equipment upgrades and technological modernization, and promote digital transformation and low-carbon development.
Also Read : Metallurgical coke curbs: Commerce dept, SteelMin battle over import quotas ICRA revises growth rate of domestic steel consumption to 9–10% for FY25
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