Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1006 ET – The U.K. risks falling behind the EU and exposing itself to high-emission steel exports by failing to confirm a carbon border policy in its latest budget statement, industry chiefs say. While the EU is implementing its own so-called carbon border adjustment mechanism by 2026, the absence of a similar move by the U.K. could mean high-emission steel currently exported to the EU will be diverted to the U.K., industry trade body UK Steel says. “It’s disappointing that the Chancellor didn’t use his Autumn Statement to announce a U.K. CBAM and a timetable to implement it by 2026,” UK Steel Director General, Gareth Stace, writes. “Delaying the confirmation of a U.K. carbon border policy will risk the U.K. playing catch-up with the EU on timetables.” (philip.waller@wsj.com)