On November 11th, it was reported that at the annual meeting of the Latin American Steel Association (Alacero) held in S ã o Paulo, Brazil on November 9th, in order to balance regional steel trade, Latin America may refer to the European Union's Carbon Border Adjustment Mechanism (CBAM) in the future to implement regional cross-border regulation measures on imported products with high carbon emissions
HX180YD+ZM steel.
Jefferson De Paula, representative of the Latin American Steel Association and President of Arcelor Mittal Brazil, stated that the United States may follow the EU's carbon border regulation mechanism to introduce similar policies or measures. If Latin American countries, including Brazil, cannot respond in a timely manner, more high carbon emitting steel will be imported into Latin America. While establishing regional regulatory mechanisms, we should also establish regional carbon markets. The government can use the revenue from the carbon market to support steel companies in achieving their low-carbon transformation goals. The energy transformation cost of steel enterprises is high and requires support and incentives
HX180YD+ZM steel.
It is reported that the Brazilian legislative branch is currently discussing the possibility of creating a regional regulatory mechanism. But local government sources have recently stated that it will be at least three years before Brazil officially introduces a regional regulatory mechanism.
Gabriel Mann, representative of the energy division of the French ENGIE Group located in Brazil, believes that the introduction of the EU's carbon border regulation mechanism will accelerate the green transformation of the Latin American steel industry.
The representative of the Latin American Iron and Steel Association, Alessandro, stated that although Brazil and Chile are the two countries with the largest increase in steel imports in Latin America this year, this phenomenon may spread throughout Latin America, and the EU's carbon border regulation mechanism may exacerbate this trend
HX180YD+ZM steel.
According to the forecast data from the Latin American Steel Association, the steel production in Latin America will reach approximately 58 million tons in 2023, a year-on-year decrease of 7.5%; The regional steel consumption will reach 71 million tons, a year-on-year increase of 2.4%.
