The price of Carbon Border Adjustment Mechanism (CBAM) certificates for the second quarter of 2026 has been set at €75.28 ($85.93), down €0.08 versus the Q1 price, the European Commission says.
This comes despite EU carbon permit (EUA) prices recovering from their 2026 trough in March and hovering at around €80 since late May. They are yet to return to the recent peak above €90 seen in January, Kallanish notes.
Separately, European Parliament Environment Committee (ENVI) MEPs have backed extending CBAM to around 180 downstream steel- and aluminium-intensive products from 2028, and setting up a temporary decarbonisation fund (TDF) to protect EU producers on export markets.
They deleted the Commission’s proposed safeguard that would have allowed goods to be removed from the scope in the event of price shocks, the so-called “emergency brake”. In its place, MEPs added a mechanism to temporarily redirect CBAM revenues from the goods concerned to the affected sectors. The MEPs want financial support from the TDF to run from 2027 to 2029 and not only from 2028 as proposed by the Commission.
All downstream operators – firms that use CBAM-covered goods as inputs in their production – should be eligible for support from the fund.
MEPs also deleted the option to use international carbon credits for CBAM compliance.
Parliament will adopt its mandate for negotiations with EU member states on the final shape of the bill during the September plenary session.
Eurofer welcomed the ENVI vote, highlighting the exclusion of pre-consumer steel scrap as a precursor from the CBAM scope, stronger “melt and pour” certification improving traceability for imported steel, and the removal of provisions that could weaken CBAM through exemptions or international carbon credits.
“However, further adjustments are required to extend CBAM across more steel-intensive value chains, and to develop an effective and structural solution for European exports,” it adds.
