European customs data show that European Union (EU) imports of Serbian iron and steel and aluminium totalled about 1,015 million euros in 2025, but generally do not identify the factories that consumed the material or the companies that ultimately bear Carbon Border Adjustment Mechanism (CBAM) costs. The figures indicate substantial trade with the bloc, not direct supplies to named manufacturers.
EU imports of Serbian iron and steel under HS72 were about 567 million euros, with Poland, Czechia and Hungary the leading markets. Imports of Serbian aluminium and aluminium articles under HS76 were about 448 million euros; Germany, Slovenia and France were the leading direct markets.
Country and product totals can help identify trade routes for CBAM screening, but do not show where metal was ultimately used. A shipment recorded as entering through Poland, for example, could later be used in a German vehicle, a Czech machine tool or a Hungarian industrial building. European industrial demand can support Serbian exports even when customs records show no direct transaction between a Serbian mill and the final equipment maker.
Processing separates entry points from end users
A metal supply chain normally involves at least four distinct actors: a Serbian producer, an EU importer or indirect customs representative, a European processor and a final manufacturer. The producer makes the steel or aluminium; the importer clears it and assumes legal CBAM responsibilities. A processor may then roll, cut, press, extrude or fabricate the material before a manufacturer incorporates it into a vehicle, machine, building or package.
One corporate group may occupy several roles, but each relationship needs separate documentation. For flat steel, the immediate EU counterparty may be a service centre that controls inventory and processing. A coil can pass through slitting, cold reduction, galvanising and stamping before reaching a component producer or vehicle assembly plant.
Serbian rolled aluminium sheet may undergo further finishing, enter packaging production or be fabricated in Europe. Customs data identify the country of entry and product category, not each processing step or final customer. Claims that Serbian metal directly supplies particular European carmakers therefore require traceable transactions, rather than an inference from trade totals.
Impol Seval, a rolled-aluminium producer based in Sevojno, reported export revenues of roughly 89.7 million euros for the first half of 2025. Its public report identified Germany, Italy and France as important export markets. The disclosure shows the company’s export orientation, but does not identify the end user of each sheet or strip or prove supplies to any particular European automotive or aerospace manufacturer.
Contracts determine who bears CBAM costs
The party legally responsible for CBAM certificates may differ from the party that ultimately bears the expense. An importer could be responsible for certificates while a distributor passes the cost to a fabricator, which then raises prices to a final manufacturer. Alternatively, a large industrial buyer could require the Serbian supplier to absorb the cost through a lower ex-works price. Without contractual evidence, identifying the ultimate purchaser does not establish who pays.
A credible register of companies benefiting from Serbian metal exports would require more than an HS-code spreadsheet. Where lawfully accessible, it could include importer EORI and legal-name records, purchase orders, delivery terms, distribution agreements, factory receiving records and customer acceptance documents. Material identity and the originating installation would also need to be preserved across processing steps.
Business relationships should be classified as confirmed by a primary document, disclosed through a corporate relationship or only a plausible downstream application. A next-stage map could begin with product-specific flows into Poland, Czechia, Hungary, Germany and Slovenia, then trace named processors only where independent records permit attribution.
Elevated by CBAM.Clarion Engineer