The Carbon Border Adjustment Mechanism (CBAM) in the EU was expected to start trial operation at the end of 2023, which will cover the industries of steel, cement, aluminum, fertilizer, and electricity. However, in recent months, the demand for stainless steel in the European market has been sluggish, and the volume of stainless steel exported to the region has declined significantly. It will take some time for demand to recover.

The amount of stainless steel exported from China to the EU has declined for three consecutive months since October this year. In the future, when CBAM is officially launched, the export of stainless steel from China to the EU may further decline.

In conclusion, under the severe global climate situation, the carbon emission of stainless steel in China has also attracted extensive attention, and the green low-carbon transformation of the industry is imminent.