Thyssenkrupp, Germany’s largest steelmaker, announced a €1 billion impairment on its steel division, citing weak demand, rising Asian competition, and high energy costs. This marks the second major writedown in as many years and contributed to a €1.5 billion net loss for the 2023/24 fiscal year, down from €2 billion the year prior.

The company is in talks with Czech billionaire Daniel Křetínský, who owns 20% of the steel unit, about increasing his stake to 50%. The outcome hinges on a new business plan under development.

Despite the setback, Thyssenkrupp reported positive free cash flow of €110 million, driven by prepayments in its Marine Systems division. CEO Miguel López emphasized 2024 as a pivotal year for strategic decisions, including the potential restructuring of its steel and warship businesses. Shares rose slightly after the announcement.

Constellium, a French aluminium leader, is teaming up with German recycler OSR Metallrecycling and a premium European carmaker to revolutionize automotive aluminium recycling using laser-induced breakdown spectroscopy (LIBS). The technology enables over 95% purity in sorting 5xxx and 6xxx alloys, preserving material quality for high-value applications.

At Constellium’s expanded Neuf-Brisach plant in France, LIBS has proven its industrial viability, reducing emissions and advancing sustainability. The French-German partnership aims to expand the technology’s use to end-of-life vehicles (ELVs), promoting a fully circular aluminium recycling system across Europe. ♻️✨

Construction group Papenburg and metals recycler TSR are considering a joint offer to acquire a controlling stake in German steelmaker Salzgitter AG. The companies aim to secure a 45% plus one share holding, leveraging Papenburg’s existing 25.1% stake in Salzgitter, which is actively transitioning to low-CO₂ steel production through its "Salcos" program.

This move aligns with Salzgitter’s plans to decarbonize by 2033, using hydrogen and electric arc furnaces. TSR’s interest is bolstered by its push to increase the use of recycled metals in steel production, evidenced by recent expansions of its TSR40 recycling facilities and the acquisition of non-ferrous specialist Siegfried Jost GmbH & Co. KG. With Salzgitter’s substantial stake in copper producer Aurubis AG, the potential acquisition could offer strategic benefits across the steel and non-ferrous metals sectors.

French shipping powerhouse CMA CGM and environmental services leader SUEZ have teamed up to produce biomethane from waste to help decarbonize European shipping. Under their new agreement signed on October 18, 2024, the French companies will co-invest €100 million to establish facilities capable of producing up to 100,000 tonnes of biomethane annually by 2030. This renewable fuel will power CMA CGM’s gas-driven vessels, advancing low-carbon solutions in maritime transport. The partnership also includes joint research on innovative biofuel production, supporting Europe’s transition to sustainable energy sources.

The £1 billion redevelopment of Shotton Mill in Flintshire, led by Turkish firm Eren Holding, represents a significant boost to UK recycling infrastructure. Originally a paper mill for newsprint, Shotton Mill is being transformed into a major cardboard and tissue production plant with high-tech capabilities, aiming to elevate the UK’s recycling levels substantially. The project, employing up to 2,000 contractors during its construction phase, is expected to start operations next year. Both the UK and Welsh governments have endorsed the initiative, highlighting its potential economic benefits for North Wales and Deeside, marking it as a strategic step in advancing the UK's recycling and production capabilities.