The European Commission has officially set the CBAM certificate reference price for Q1 2026 at €75.36 per ton of CO2, marking the first concrete cost signal for importers subject to the mechanism. 

Importers will need to purchase certificates starting in February 2027 to cover their 2026 imports, with pricing based on the average quarterly EU ETS auction allowance prices, shifting to weekly published rates from 2027 onward. Subsequent quarterly prices are scheduled for release on June 6, October 5, and January 4, 2027. 

Ahead of this announcement, the European Steel Association (EUROFER) urged further refinement of the CBAM, calling for an expanded scope, closure of loopholes, and faster decarbonization support. Specifically, EUROFER proposed stronger steel traceability, rejection of simplified exemption procedures, alignment of CBAM rules on international credits with the EU ETS, and removal of the exemption for processing procedures within the customs territory.