India steel mills most at risk from EU carbon plan, Goldman Says
economic times
India
17-02-2024
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Steel producers in India are most at risk from Europe's new carbon tax on imports due to their high sales to the region and mills' elevated emissions intensity, according to Goldman Sachs Group Inc.
There is a potential for an additional USD 102 to USD 190 a ton of tax charges on flows of Indian steel to the bloc over the next decade, analysts led by Emma Jones said in a report. That range — which assumes a carbon price of USD 70 — is 15% to 28% of current hot-rolled coil prices, they said.