Armin von Preetzmann
Additionally, beginning in January, the Isbergues site will function at 50% of its full capacity for a minimum of four months.
Thyssenkrupp Electrical Steel (TKES) stated this is a response to the notable rise in inexpensive imports, especially from Asia.
TKES stands as one of the last two European manufacturers of anisotropic electrical steel (AES), utilized in the energy sector, especially for substation transformers and wind turbines.
The group cautioned that jobs are in jeopardy.
TKES observes that the European EAS market is experiencing considerable pressure because of a sudden rise in import volumes at prices well below the average EU cost.
As of 2022, its imports have risen threefold, and by 2025, they are expected to grow an additional 1.5 times, as stated in a press release. Market forecasts referenced by TKES indicate that global demand for this type of steel is expected to triple by 2050.
source: ft.com
Thyssenkrupp Electrical Steel (TKES) stated this is a response to the notable rise in inexpensive imports, especially from Asia.
TKES stands as one of the last two European manufacturers of anisotropic electrical steel (AES), utilized in the energy sector, especially for substation transformers and wind turbines.
The group cautioned that jobs are in jeopardy.
TKES observes that the European EAS market is experiencing considerable pressure because of a sudden rise in import volumes at prices well below the average EU cost.
As of 2022, its imports have risen threefold, and by 2025, they are expected to grow an additional 1.5 times, as stated in a press release. Market forecasts referenced by TKES indicate that global demand for this type of steel is expected to triple by 2050.
source: ft.com