Analysis of the impact of the EU Carbon Border Adjustment Mechanism(CBAM)on China's aluminum industry
The EU Carbon Border Adjustment Mechanism(CBAM)includes aluminum products in the scope of carbon tariff collection.China's production of electrolytic aluminum and aluminum products accounts for more than half of the global total.By studying the CBAM collection rules,we analyze the ex-port volume of China's aluminum products to the EU,compare the differences between China's aluminum product carbon emissions and the EU benchmark value,compare the carbon price trends in the EU and China's carbon markets,and analyze the impact of CBAM on China's aluminum industry.Due to the small export volume of aluminum products from China to the EU and the low direct carbon emissions of aluminum products,the current mechanism has a relatively small impact on China's aluminum industry.In the long run,considering the gradual cancellation of free quotas by the EU,there is a possibility of including indirect emissions of aluminum products in CBAM.China's carbon price is significantly lower than the EU's carbon price,active measures are required to effectively respond.
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