Thyssenkrupp nucera handed over a chlor-alkali plant to Kutch Chemical Industries in Gujarat, India, on Thursday, bringing the project into its operating phase. The unit carries an annual production capacity of 220,000 tonnes of caustic soda, according to the subsidiary.
The commissioning marks a rare piece of completed business for the group at a moment when its flagship German decarbonisation scheme is running behind schedule. At Thyssenkrupp Steel Europe, the direct-reduction plant intended to produce green steel in Duisburg is now slated to start in 2029 rather than 2027. The company attributed the shift chiefly to the engineering phase, and said the delay would not make the project more expensive. The revised EU funding decision reflects the later launch date.
Hydrogen supply becomes the sticking point
Feeding that plant over the long term is the next hurdle. Thyssenkrupp Steel confirmed that the amended funding notice for its tkH2Steel decarbonisation project has become legally binding, and that it is preparing a fresh hydrogen tender. Press reports point out that green hydrogen is not yet available in sufficient quantities and does not carry a competitive price — a supply question that sits alongside construction progress in determining the fate of the planned green-steel output.
Goldman rebuilds its position above 5%
On the shareholder register, Goldman Sachs reported a threshold crossing for Thyssenkrupp on Monday. Its aggregate position of voting rights plus instruments rose to 5.01%, up from 4.25%, putting the disclosed holding back above the five-percent mark.
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The split matters. Voting rights from shares accounted for just 0.68%, while instruments made up 4.34% — so the aggregate figure should not be read as an equivalent direct equity stake. The larger share sits in the instruments. The disclosure follows an earlier reduction: Goldman had reported a decline from 5.08% to 4.25% for 29 October. The subsequent increase covers share voting rights and instruments in aggregate, not the shareholding alone.
IG Metall tables 5% claim for northwest steel
Pay talks are adding another variable. On Tuesday the IG Metall bargaining committee adopted a demand for 5% more pay and salary across the northwest German steel industry, with a twelve-month term. The claim covers the steel sector rather than Thyssenkrupp specifically, and is a demand — not a settled collective agreement.
The shares closed yesterday at €11.86, digesting a mixed news flow: a completed plant project, a delayed green-steel venture and a new wage demand.
Thyssenkrupp at a turning point? This analysis reveals what investors need to know now.
Investors get their next formal checkpoint on 8 December 2026, when Thyssenkrupp is due to publish its 2025/2026 annual report alongside its annual press conference and an analyst and investor conference.
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