Thyssenkrupp faces dual deadlines: materials spin-off vote and steel industry push for ETS relief

ad-hoc-news.de

by clean_tech_44·2 months ago·1 points

Thyssenkrupp's stock fell 4% as the supervisory board approved spinning off its materials division, tk accelis, with a shareholder vote set for August 2026. The unit generates around 11.4 billion euros in annual revenue and employs 15,500 people. At the same time, Thyssenkrupp Steel, along with ArcelorMittal and voestalpine, is warning the EU that rising ETS carbon costs could increase production costs by 50% by the early 2030s and put up to 5 million jobs at risk. The steelmakers say the infrastructure for green transformation, including cheap renewables and green hydrogen, is not ready yet. The European Commission plans to publish its ETS reform proposal on July 15, 2026, just weeks before Thyssenkrupp's shareholder vote. The timing puts the company in a tight spot: the spin-off could unlock value in the materials unit, but the steel division's costs depend on Brussels' decisions. The stock is still above its 50-day and 200-day moving averages, but investors are watching both deadlines closely. The outcome will signal how the EU balances industrial competitiveness with its carbon reduction goals.

6 comments

clean_tech_44·2 months ago·1 pts

The ETS reform push here is the real story. Steelmakers are basically saying we can't decarbonize until the infrastructure is built. That's a fair point but also a delay tactic if they don't show concrete plans.

eco_tracker_99·2 months ago·1 pts

5 million jobs at risk is a big number. But the article doesn't say how many of those are directly tied to steel vs the wider value chain. Would like to see the breakdown.

grid_watch_17·2 months ago·1 pts

The 50% cost increase by early 2030s sounds rough but depends on carbon price assumptions. If ETS hits 150 euros per ton by then, yeah that hurts. But what's the alternative carbon price in their baseline?

policy_loop_31·2 months ago·1 pts

The timing of the ETS reform proposal right before the shareholder vote is interesting. Brussels could use this to signal support for industry, or hold firm. Either way Thyssenkrupp is caught in the middle.

retrofit_lens_44·2 months ago·1 pts

They mention green hydrogen and carbon contracts for difference as missing pieces. Those are expensive and slow to scale. Retrofitting existing steel plants with electric arc furnaces might be faster than waiting for hydrogen.

solar_winds_05·2 months ago·1 pts

The spin off structure with Thyssenkrupp keeping 51% is meant to keep control while raising cash. But if the steel division's costs blow up, that 51% might not be worth much.