Jindal Steel's application to acquire Thyssenkrupp Steel Europe, the expansion of the scope of Section 232 tariffs in the United States and confirmation of the introduction of CBAM taxes in the EU from January 1 are all presented in the review of steelmaking capacities of MEPs for this month.
The monthly review features articles by MEPs about developments in the steel industry, which were previously reported in the September issues of the European Steel Review, International Steel Review and Stainless Steel Review
Contact members of the European Parliament for detailed information on how to subscribe to these monthly publications, which publish steel prices and indices, market commentary, and six-month steel price forecasts.
Europe
Thyssenkrupp
Thyssenkrupp has received an optional Thyssenkrupp has applied to acquire its European steel mills from Indian steel producer Jindal Steel International.
Thyssenkrupp said its board of directors would carefully consider Thyssenkrupp Steel Europe's proposal in a statement released after Jindal's filing on September 16.
In a separate statement, Jindal said it would consider Thyssenkrupp Steel Europe's offer. Invest 2 billion euros in the development of the DRI plant at Thyssenkrupp's Duisburg plant and the creation of additional EDP production facilities. The steel company stated that it has "a clear vision of the decarbonization process, as well as competitive steel production in Germany."
Jindal's offer came just two months after Thyssenkrupp signed a cost-cutting agreement with the German trade union IG Metall. The plan includes reduced working hours, reduced bonuses, the potential for job cuts and plant closures, which would reduce liquid steel production capacity from 11.7 to 8.7-9 million tons.
EU CBAM
The European Commission has confirmed that the start date of the CBAM deadline will remain unchanged, from January 1, 2026.
This results from steel lobbying industry bodies who believe that importers will need more time to comply with the new rules.
In a separate document, the commission also launched three consultations to obtain information on the range of possible CBAM changes.
The Commission's agreement document notes that industry stakeholders have until September 25 to share their views on: the EU CBAM equalization rules and the CED scheme; thirdly, the country's carbon pricing, and the methodology for determining emissions and the built-in default during the final period.
Marcegaglia companies
Marcegaglia has been awarded a contract by the equipment manufacturer Danieli for the supply of equipment for the EUR800 million steel flat minimill project in Fos-sur-Mer.
