[SMM Steel] European carbon prices hold above €70/t amid ETS reforms and CBAM signals

Published: Apr 9, 2026 19:14

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[SMM Steel] European carbon allowance futures remained above €70/t in early April, reaching €74.6/t on April 1 following European Commission proposals to adjust the EU ETS Market Stability Reserve. Prices later stabilized at €71.6–71.7/t on April 6–7 as markets monitored Middle East tensions. Meanwhile, the EU set the Q1 2026 CBAM reference price at €75.36/t CO₂, providing the first concrete cost signal for importers and supporting carbon price expectations.

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