There seems to be much confusion over the introduction of CBAM, or the Carbon Border Adjustment Mechanism to give it its proper title. The EU rule is set to increase the costs of all imports into the bloc, including fertiliser, steel and cement.

The talk in Brussels in early January was that the European Commission might suspend CBAM, but in the end it did not go ahead with any such action.

That all happened around the time Mercosur was up in the air. So CBAM hasn’t gone away.

One outfit that seems to be benefitting from that news is Yara, whose share price has increased by 68% since last April and it climbed by almost 18% since the Commission announced CBAM was staying in place in early January.

The company will benefit from CBAM as most of its products sold in Europe are made in the EU and so are exempt from CBAM.