EU CBAM Draft Benchmarks Set to Reshape Stainless Steel Imports in 2026

On November 20, 2025, according to multiple foreign media reports, the EU's CBAM Committee officially released a draft of provisional benchmark values for goods yesterday. The benchmark values for stainless steel products highlight strict restrictions on high-carbon emission production processes. The draft shows that the carbon emission benchmark for the blast furnace-converter process is approximately five times that of the scrap steel-electric furnace process, a significant gap expected to reshape the EU's stainless steel import landscape.

This draft paves the way for the official implementation of CBAM on January 1, 2026. Its core principle is to guide the market towards low-carbon products through differentiated carbon costs. For the stainless steel industry, the new benchmark means that steel produced using the blast furnace process will incur significantly higher CBAM certificate costs when exported to the EU compared to low-carbon electric furnace steel, making importing "low-carbon stainless steel" a more economical option.

The draft sets detailed preset carbon emission benchmark values for various stainless steel products. For example, the benchmark for cold-rolled stainless steel plates in 2026-2027 is 2.152 tons of CO2 per ton, and for hot-rolled products, it is 2.021 tons per ton. The draft also stipulates that importers can use verified actual emissions data instead of the aforementioned preset values.

Analysis indicates that the combined uncertainties surrounding the CBAM benchmark, future EU carbon price trends, and revisions to steel safeguard measures will not only drive up steel prices in the EU market but also impact the global stainless steel supply chain, forcing producers to accelerate their transition to green and low-carbon practices.