Shanghai Metals Market (SMM) today announces the launch of the Steel CBAM Calculator. Based on EU regulations and the certificate prices published by the European Commission, the tool estimates the number of CBAM certificates, and their cost, required for steel products entering the European Union. It is available now, in English and Chinese, under Tools on metal.com and under Industry Tools on smm.cn.
1. Why we are releasing it
The EU Carbon Border Adjustment Mechanism (CBAM) entered its definitive period for imported steel on January 1, 2026. Certificates for 2026 imports go on sale in February 2027, and the first annual declaration and certificate surrender is due by September 30, 2027. Carbon cost has become a separate line in every EU-bound steel transaction.
Calculating that cost is not simple. It depends on origin-specific default emission values, benchmarks tied to the production route the regulation assigns to each origin, a default-value mark-up and CBAM factor that change every year, and certificate prices published quarterly in 2026 and weekly from 2027. Manual calculations are prone to error. SMM is releasing this tool so that exporters, European importers and service providers can work from the same official basis and reach a figure quickly.
2. Why it is useful
- Official and traceable: Default values follow Implementing Regulation (EU) 2025/2621 as corrected by Implementing Regulation (EU) 2026/1740; all 5,993 values have been checked against the Commission's official data file. Benchmarks follow Implementing Regulation (EU) 2025/2620. Official certificate prices for Q1, Q2 and Q3 2026 (EUR 75.36, 75.28 and 82.32) are built in.
- Comprehensive: 184 steel CN codes in chapters 72 and 73, 48 origin columns including the "Other Countries and Territories" catch-all, and seven production routes.
- Transparent and easy to reconcile: Each result lists the embedded emissions, the applicable route and benchmark, the CBAM factor, certificates per tonne and total cost, and can be printed or saved as a PDF for exporters, European buyers and customs agents to check line by line.
- Forward-looking: Projections run year by year to 2035, reflecting the rising mark-up and the phase-out of free allocation. Users can also test verified actual emissions and custom certificate prices.
- Context in one place: A value-chain emissions breakdown, an EU steel tariff-quota lookup, a policy tracker and CBAM news updated every Monday sit alongside the calculator.
The tool is designed for EU-bound steel mills and traders, European importers and procurement teams, and customs and compliance service providers.
3. How to use it
- Step 1: select the import year and quarter; that year's mark-up, CBAM factor and certificate price are applied automatically.
- Step 2: select the origin and CN code and enter the tonnage; the tool applies the production route and benchmark set by the regulation.
- Step 3: check the result, then print it or save it as a PDF.
Users with verified actual emissions can switch to the "Actual (verified)" basis. To test different carbon-price scenarios, enter a custom certificate price or the carbon price paid at origin under "Advanced parameters". A 10-step guided tour helps first-time users.
Access: log in to SMM, open Tools on metal.com and select Steel CBAM Calculator: https://www.metal.com/resources/tool/k30vxjgNa1-GQcDV6lcxJg. Chinese version: https://www.smm.cn/resources/tool/k30vxjgNa1-GQcDV6lcxJg. Registration is free.
4. Notes
Results are commercial estimates and do not constitute compliance, legal or tax advice. Official declarations follow the EU CBAM Registry and verified emissions reports. SMM will update the tool promptly when the Commission publishes new certificate prices or regulatory corrections. For European steel prices, landed-cost comparisons by origin or customised calculations, please contact the SMM steel team: Thomas Chong, thomas.chong@metal.com.
Shanghai Metals Market (SMM)
Steel Research Team
9 October 2026