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CBAM, Omnibus, and a localised market
Stainless Steel World continues the conversation about CBAM and its impact on our industry. This month, we present the first in a series of articles by Josef Samak, ESG Specialist at HARALD PIHL. In this issue, Josef focuses on why carbon borders, trade defence, and regulatory asymmetry are reshaping global metals trade.
By Josef Samak, HARALD PIHL
For many decades, except for major events such as COVID, the global metals trade has been defined by a steady increase. Europe, Russia, and America have historically dominated the major suppliers of alloys. However, Asian countries like China, India, and Indonesia have steadily established themselves in the global market, with China emerging as a new hegemon in several segments. That era is now under pressure. The European Union’ s Carbon Border Adjustment Mechanism( CBAM), together with a growing package of trade restrictions and sustainability regulations, signals a structural shift in how market access is governed. While the regulatory direction is clear, preparedness across the market is not. Many companies are only now beginning to understand how deeply these measures affect procurement, pricing, supplier relationships, and even market geography. The result is a widening gap between regulatory ambition and operational preparedness. In this series spanning six( 6) issues, we will discuss the ever-changing regulatory landscape, the current status of these
changes, how they might affect the global market, and share lessons and insights available. The series will be Eurocentric but will also include global aspects that might affect European stakeholders directly or indirectly.
CBAM & Omnibus: simplification on paper, complexity in practice Starting with the Carbon Border Adjustment Mechanism( CBAM), importers into the EU must quantify and report embedded emissions in covered goods, transitioning from reporting-only obligations to direct financial exposure as certificates are introduced. This requires verified emissions data, traceability back to production routes, and an understanding of how benchmarks and default values apply. The original intent of the regulation was to put a fair price on emissions, as cheaper imports from outside the EU were believed to put EU manufacturers at an unfair disadvantage relative to those following the EU ETS. The idea was that external manufacturers would have to provide sustainability data to the importers, and that they would prepare for it during the two-year transitional phase( 2023-2025). However, this initial plan has been derailed by the introduction of two major new items: Omnibus and tariffs.
“ The initial plan has been derailed by the introduction of two major new items: Omnibus and tariffs”
– Josef Samak, ESG Specialist, HARALD PIHL
34 Stainless Steel World March 2026 www. stainless-steel-world. net