European Steel Giant Faces Existential Threat from Subsidized Imports

Thyssenkrupp, one of Europe’s industrial pillars, is confronting a severe survival challenge as heavily subsidized Chinese steel floods the market. Dennis Grimm, a senior executive at Thyssenkrupp Steel Europe, has issued a stark warning about the potentially devastating impact on the company’s core operations and the broader European steel industry.

The European steel sector is grappling with a massive structural imbalance. Chinese competitors, benefiting from significant state subsidies, are exporting steel at prices up to 50% lower than European producers can match. This has created a market environment where approximately 700 million tons of global excess capacity are suppressing prices and threatening the viability of established producers.

For Thyssenkrupp, this translates directly into lost contracts as customers increasingly turn Read more...