Europe’s largest steel plant is in crisis. ThyssenKrupp plans to cut or outsource over 10,000 jobs. The causes: high energy costs in Germany and a fierce price war with China, which is dumping excess steel on global markets. And if U.S. tariffs block Chinese exports, even more could land in Europe. At the same time, Thyssenkrupp is investing in new tech—like a direct reduction plant for hydrogen-based green steel. How much will the shift cost? What role will public funding play? And can European steel stay competitive?
Chapters
0:00 European steel companies in transition
02:17 China, the largest steel producer
4:18 The impact of U.S. tariffs
04:49 Investment in green technology
6:25 German subsidy policies
07:33 Where will the hydrogen come from?
09:06 Is the EU protecting its steel market?
10:29 What’s the demand for green steel?
12:33 Conclusion
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Author: DW News
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News post in May 19, 2025, 3:04 pm.
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