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The Impact of the Carbon Price on the Steel Industry
CBAM really started the conversation for a lot of people. It has an extremely long implementation time. We don't think we're really going to see the full effects of the carbon price and this tariff until the 2030s. So I would say what this is doing is putting everyone on notice. Every other country that imports to Europe now must either find a way to produce a green product or start figuring out another place to send their steel.