Latin America possibly releases similar measures as CBAM
Latin America may imitate the EU and make its own Carbon Border Adjustment Mechanism (CBAM) in the future to balance steel trading between different regions.
In the Alacero Summit held on November 9 in Sao Paulo, the president of Alacero, Jefferson De Paula, said that the US could take similar measures as the EU's CBAM sooner or later. In the meantime, there could be more steel products with high carbon emissions entering the local market of Latin America if the countries in the region couldn't respond in time.
According to data predicted by Alacero, in 2023 the local steel output of Latin America may reach 58 million tons, while the regional steel consumption could reach 71 million tons in total.
