Europe’s steel industry is at a crossroads. Squeezed by high energy prices, weak demand, rising imports, and global overcapacity—particularly from China—profitability remains under severe pressure. Meanwhile, decarbonization demands massive investments, many of which are now delayed or at risk. Geopolitics and stricter US trade barriers add further uncertainty.
Brussels has responded with a regulatory reset. From January 2026, CBAM will put a carbon price on imports, mirroring the EU ETS. By July 2026, a new trade regime will sharply reduce tariff-free quotas and raise duties. Green procurement rules and new incentives for low-carbon steel aim to accelerate the shift.
The implications could be profound: fewer imports, tighter flat steel supply, higher costs for buyers, improved utilization for EU producers—and the rapid emergence of a green steel premium.
Will these measures restore sustainable profitability—or simply redistribute pressure across the value chain? Join us as we explore what’s at stake and how to prepare for Europe’s new steel order.
Boston Consulting Group Dusseldorf
Nicole Voigt is a managing director and partner at BCG’s Düsseldorf office, where she leads Climate & Sustainability for Industrial Goods across Europe, the Middle East, and South America. With six years overseeing BCG’s global metals practice, she is a recognized authority on sustainability, the circular economy, and CO₂ footprint optimization in the metals sector. As an influential author and thought leader, Nicole supports clients in advancing their climate goals and driving meaningful change across the region.
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