A coalition of progressive European steelmakers including SSAB, Outokumpu, and Salzgitter AG has warned the EU that delaying carbon pricing under the ETS1 review would destroy the green premium and put billions in clean steel investments at risk. The group, which has committed over 10 billion euros to low-emission production and green hydrogen retrofits, is calling for a stable carbon price signal, tighter CBAM rules, and full revenue recycling for industrial decarbonization. The appeal directly opposes a rival bloc of traditional steelmakers like ArcelorMittal and thyssenkrupp that want a temporary pause in ETS cost increases. Carbon Market Watch analysis shows those three firms received over 25 billion euros in free allowances from 2021 to 2025 but spent little on actual decarbonization. The European Commission's July 15 review will decide whether to maintain the current ETS trajectory or dilute it, with major implications for green capital flows and the viability of clean steel projects across Europe.
