Çimenci presented the operations of FlatSteel Hub, an independent trading and consultancy firm based in Bologna, emphasizing its role in sourcing steel products from partners in Türkiye, Europe, and the Far East, and delivering them to clients in Italy, the broader European market, Türkiye, and the Middle East.
The Functioning of CBAM
Çimenci stated that CBAM is a mechanism developed to prevent carbon leakage as part of the European Union’s 2050 carbon neutrality goal. She emphasized that this regulation is not an anti-dumping measure, a quota system, or a trade restriction.
Reminding that the obligation to purchase CBAM certificates will begin in January 2026, Çimenci provided detailed information on the EU ETS system, carbon leakage, CBAM certificates, and cost calculations.
The Position of Italy
The presentation highlighted that as of 2023, Italy is Europe’s second largest steel producer with a production volume of 21.3 million tons, and that more than 85% of its production is carried out using electric arc furnaces, making it one of the world’s lowest carbon intensity steel producers.
The regional concentration is noted to be in the northern areas (Lombardia, Veneto, Emilia-Romagna), and because of the current idle capacity at the Acciaieria d’Italia plant, a substantial import demand for flat products is expected to persist.
Industry Perspectives
According to Çimenci, CBAM has been met with diverse reactions in Italy:
- Federacciai, views the mechanism as a protectionist tool for the domestic industry but is concerned about the weakening of export competitiveness.
- ASSOFERMET, anticipates up to a 15% increase in import costs and considers CBAM to be overly bureaucratic and costly.
- Confindustria, while cautiously supporting the regulation, recommends free carbon allowances and the reinvestment of CBAM revenues into the industry.
Opportunities for Türkiye
Çimenci stated that Türkiye will have an advantageous position in the CBAM process due to its low carbon production structure, gaining a competitive edge especially against products coming from high emission countries such as China, India, and Vietnam.
Çimenci stated that as FlatSteel Hub, they support their business partners in Europe’s second largest steel market in areas such as steel trading, logistics solutions, legal and financial consultancy. Çimenci stated that, the company will continue to differentiate itself in the market with its approach of “Connecting steel, markets, and people.”
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