The European Union's (EU) carbon tax on certain metals will come into force from Thursday and is expected to hurt India's steel exports, think tank GTRI said on Wednesday. The 27-nation bloc is imposing this tax on goods that emit carbon during the manufacturing process. In steel, emissions are highest for Blast Furnace -- Basic Oxygen Furnace (BFBOF) routes, lower for gas-based Direct Reduced Iron (DRI), and lowest for scrap-based Electric Arc Furnace (EAF) routes. Similarly, in aluminium, electricity source and power intensity are critical. Power generated from coal significantly raises the carbon burden and, therefore, the CBAM cost. The Global Trade Research Initiative (GTRI) said that many Indian exporters may have to cut prices by 15-22 per cent so EU importers can use that margin to pay the CBAM (carbon border adjustment mechanism) tax. Indian exporters will not pay the tax directly as the EU-based importers -- registered as authorised CBAM declarants --have to buy CBAM ...