The European Commission has set the price of CBAM certificates for the third quarter of 2026 at EUR 82.32 (USD 92.49), up 9.4pct from EUR 75.28 in the second quarter.
The Carbon Border Adjustment Mechanism (CBAM) is the EU’s climate measure designed to prevent carbon leakage by applying a carbon cost to emissions embedded in certain carbon-intensive imports. Importers are required to purchase certificates corresponding to the embedded emissions of covered goods, aligning the carbon cost of imports with the EU Emissions Trading System (EU ETS).
For the steel industry, CBAM is expected to increase the importance of carbon intensity in international trade, encouraging producers to reduce emissions and invest in lower-carbon production technologies.
The CBAM certificate price is based on the weighted average of EU ETS allowance auction clearing prices. The Commission set the Q1 2026 price at EUR 75.36 and Q2 at EUR 75.28.
In 2026, one CBAM certificate price is published for each quarter. From 2027, prices will be calculated and published weekly. Certificates covering emissions from 2026 imports will be purchased through the EU’s common central platform from February 2027.
1 USD / 0.89 EUR