Thyssenkrupp shares fell nearly 4% as an early-stage green project failed to excite investors and major steelmakers warned that rising EU carbon costs could cut industrial output by 30-40%. The Calvion subsidiary announced a feasibility study for an electrified quicklime plant in France, but the project is too early to affect earnings. Separately, Thyssenkrupp Steel, ArcelorMittal Europe, and voestalpine jointly warned Brussels that without a pause in ETS cost increases, production expenses could jump 50% by the early 2030s. Around 40 industrial firms including BASF and Covestro echoed the warning, saying cheap renewables, green hydrogen, and carbon contracts for difference are not yet in place. The EU Commission is due to present its ETS reform proposal on 15 July, a date the steel industry sees as critical for competitiveness. Thyssenkrupp stock remains above key moving averages but has pulled back 20% from its 52-week high after a 70% spring rally.
