Exclusive: Thyssenkrupp to close electrical steel sites as Asian imports put additional 1,200 jobs at risk

Core Viewpoint - Thyssenkrupp's steel unit is temporarily shutting down production of electrical steel in Europe due to the impact of cheap imports from Asia, which have affected its profitability [1] Group 1: Company Actions - Thyssenkrupp's steel unit will halt production of electrical steel, a crucial material for wind turbines and power grids [1] - The decision is a response to competitive pressures from low-cost imports, particularly from Asia [1] Group 2: Industry Implications - The shutdown of electrical steel production may have significant implications for the supply chain in the renewable energy sector, particularly affecting wind turbine manufacturing and power grid infrastructure [1] - The reliance on imports could lead to increased vulnerability in the European market for critical materials [1]