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Steep rally in carbon prices and CBAM compliance in EU could curtail profits of Indian steel makers

Steep rally in carbon prices and CBAM compliance in EU could curtail profits of Indian steel makers

Jun 23, 2023, at 12:50 pm

New Delhi: In the wake of the European Union’s (EU) latest framework for the imposition of taxes on embedded carbon imports, Indian steel mills are at the risk of lower profits and a loss of market share in Europe, according to ratings agency ICRA.