Iberian steel distributors meeting in Santander express cautious optimism over the EU's Carbon Border Adjustment Mechanism but flag serious concerns about verification complexity and customs inconsistencies across member states. The expiry of EU steel safeguard measures on July 1, 2026 adds urgency, with distributors worried about orders already in transit. Industry leaders also call for the mechanism to cover steel derivatives, closing a competitive loophole that currently disadvantages European manufacturers.