Price pressure from China, slowing European demand because of recessionary pressures, and lack of clarity on Carbon Border Adjustment Mechanism (CBAM) reporting guidelines, and better realisations in domestic market continue to impact exports.

Source: https://www.thehindubusinessline.com/markets/commodities/indian-steel-exports-dip-70-in-september/article67392441.ece

The Carbon Border Adjustment Mechanism (CBAM) aims to set a fair price on the carbon emitted during the production of energy-intensive products such as iron, steel, cement, fertilizers and aluminium in non-EU countries.

Source: https://www.thehindu.com/news/national/cant-put-india-other-nations-with-high-per-capita-emissions-in-same-basket-european-parliament-member-peter-liese/article67620793.ece

The Carbon Border Adjustment Mechanism (CBAM) is not intended to be “protectionist” and only meant to avoid the problem of ‘carbon leakage,’ said Frans Timmermans, European Union’s chief climate negotiator, in an interaction with reporters on Friday.

Source: https://www.thehindu.com/news/morning-digest-may-27-2023/article66898306.ece