Industry News

ArcelorMittal and Thyssenkrupp drive European steel crisis

Views : 76
Update time : 2024-11-28 16:31:47
The European steel industry faces a deepening crisis as Thyssenkrupp Steel announces 11,000 job cuts and ArcelorMittal indefinitely delays green investments in Direct Reduced Iron production, citing EU energy policies.

Site closures in Germany and France add to concerns, with unions highlighting 100,000 steel job losses over the past 15 years.

IndustriAll Europe calls for urgent EU action, emphasizing steel’s strategic importance for energy transition and industrial sovereignty. They advocate for a robust European Steel Action Plan within 100 days, mandatory social conditions for state-supported companies, and a moratorium on forced redundancies.

Judith Kirton-Darling, industriAll Europe’s General Secretary, warns that decarbonization must not lead to deindustrialization, urging immediate measures to save jobs and safeguard Europe’s industrial future.
Related News
Read More >>
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Apr .25.2025
What Tariffs, Steel Prices Mean for E&S Construction Insurance in California
Nickel Price Update: Q1 2025 in Review Nickel Price Update: Q1 2025 in Review
Apr .25.2025
Nickel Price Update: Q1 2025 in Review
Higher steel prices benefiting Region steel mills Higher steel prices benefiting Region steel mills
Apr .25.2025
Higher steel prices benefiting Region steel mills
Vale's net profit drops 17% on lower iron ore prices Vale's net profit drops 17% on lower iron ore prices
Apr .25.2025
Vale's net profit drops 17% on lower iron ore prices