As Germany's steel industry is under pressure from both high energy prices and competition from China, the government has called a steel summit to seek ways to secure the business and its jobs.

Berlin

Germany's steel industry is experiencing significant challenges due to reduced production, planned job cuts, and increasing competition from low-cost Asian imports. ThyssenKrupp, a major steel producer, has cut output and is planning to outsource or eliminate thousands of jobs, while also seeking to divest its steel business.

The German government is investing billions of euros to support the transition to green steel and secure industry jobs, with additional measures under discussion at both national and EU levels. The European Commission has proposed stricter import tariffs and pledged to lower energy prices, but the sector remains under pressure from global market forces and high production costs.

Can Germany's steel industry survive a deepening cost crisis?

ThyssenKrupp's blast furnace won in the German city of Duisburg. The company produces 25,000 tonnes of pig iron daily. But they've just cut their annual output from 11.5 to only 9 million tonnes. ThyssenKrupp is also planning to cut or outsource some 11,000 jobs. Europe's steel market is being flooded with cheap imports from Asia. And it's a growing trend. According to a lobby group representing the steel business, a third of all steel used in Europe is imported from outside the EU. The world's biggest steel producers are located in Asia. In 2024, more than half of the global steel production was in China. More than a billion tonnes. And much of it is being exported. The business is also suffering from US tariffs on steel exports. Washington upped them to 50% last July. Another factor, the transition to green steel driven by Germany, is expensive. In Duisburg, ThyssenKrupp is building its first direct reduction plant, supported by almost 2 billion euros in government subsidies. On a larger scale, Germany is restructuring its entire steel industry and investing massive amounts, almost 7 billion euros so far. The government's goal? To secure the future of the steel industry and the jobs associated with it. At a dedicated steel summit, concrete measures are being discussed. Similar talks are happening across Europe as other countries too want to help their businesses. In October, the EU Commission suggested raising its import tariffs. According to those plans, no more than 18.3 million tonnes would be allowed to be imported without tariffs. Anything over that limit would be taxed at 50%. The EU Commission has also pledged to work towards lowering energy prices throughout the bloc. We have to find emergency solutions. But at the same time, we need to have a medium-term approach, with a package on the grids. This will make it easier for the member states to have a long-term strategy for the energy market. We need this to make sure that energy is available and prices can come down. Still, ThyssenKrupp wants to divest and sell its steel business. Initially, everything pointed to a takeover by the Czech EP Group. However, more recently, talks have started with India's Kindle Group.

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Moscow

Putin orders proposals for resuming nuclear weapons testing

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Washington

Global Tariffs

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Manila

Dozens killed as Typhoon Kalmaegi hits central Philippines

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Louisville

Video shows moment UPS plane crashes in Kentucky, killing nine

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New York

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Visayas

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Lima

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Al Fashir

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Russia said on Monday that its troops had advanced in the eastern Ukrainian city of Pokrovsk, a transport and logistics hub that they have been trying to capture for over a year, but Ukraine said its forces were holding on.

Pokrovsk

Ukraine Invasion

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Jerusalem

Middle East Conflict

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Michoacán

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Mazar-i-Sharif

Deadly earthquake rocks northern Afghanistan

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Los Angeles

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London

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Tel Aviv-Yafo

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Breakdown