OFZ complains that EU’s carbon border tariff does not cover ferro-alloys

Ferro-alloy producer OFZ (Vladimír Klocok) points out that the first draft of the EU’s carbon border tariff does not include ferro-alloys among the commodities protected by the scheme that is to be launched in 2023. The scheme will protect the Slovak plants of companies such as U.S. Steel, Železiarne Podbrezová, Duslo, Slovalco, CRH and Slovenské elektrárne. “If such an energy-intensive product is not included, we will have a big problem,“ says OFZ, which is under pressure from cheap imports from Ukraine that has less stringent environmental norms. Last year, OFZ cuts its losses 89% to €1.4m but its sales shrank 29% to €89.9m.

(hnonline.sk)