Iron ore price slumps to three-week low on weak China demand, strong global supply
Property investment in China fell 10.1% in the first half of 2024 from a year earlier.
ThyssenKrupp chief executive Martina Merz has defended efforts to spin off the German company’s steel business ahead of a board meeting next week.
“The future lies in the business becoming specialized and managing without the help of the parent company,” Merz was cited as saying by the weekly magazine Der Spiegel.
A supervisory board meeting on March 31 will discuss the issue, which faces resistance from some employees.
Duisburg-headquartered ThyssenKrupp Steel Europe is the biggest steel company in Germany, with some 26,000 employees.
(By Tom Käckenhoff and Tom Sims; Editing by Mike Harrison)
2 Comments
W
Ahhh, Martina Merz, is obviously ‘not just a pretty face’…! Well, yes, come to think of it, that’s patently obvious, but, aside from those ‘obvious’ facts, she’s ‘obviously’ not dumb, either, because she can ‘obviously’ read the clear writing upon the walls, of a now pending downturn in German Auto manufacturing which, up until now, has used a lot, of Krupp steel..! Smart lady..! ??
West Coast Commentator
Good riddance! German “Deindustrialisierung” in full swing for all to be aware to follow Green ideology!
The one thing more sad about it is that Thyssen Krupp sold their world class crown jewel Elevators (TKE) hoping for the steel losses to turn.