German steelmaker thyssenkrupp has lifted the force majeure on its steel units in Europe following stabilized logistics after the weather appears to be on the mend.
The company’s subsidiary Precision Steel in Hagen-Hohenlimburg, however, is still facing issues due to poor rail connectivity a thyssenkrupp spokesperson told Davis Index on Tuesday.
The spokesperson added that the company is assessing the stability of an alternative railway service for Precision Steel and that all the European steel plants are 100pc operational with no substantial loss since the inclement weather only affected logistics.
An onslaught of sudden floods had taken Germany and surrounding regions by surprise in July this year, forcing steelmakers, including thyssenkrupp, to invoke force majeure.