Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

IG Metall’s chief treasurer and executive board member, Juergen Kerner, urged the German government to increase its support for the country’s steel industry during the time of need, according to remarks made in a statement on Wednesday.


Kerner, who is also deputy supervisory board chairman at Thyssenkrupp, made these comments after the German government approved its National Steel Strategy, which he felt did not go far enough to support an industry suffering from the consequences of COVID-19.


“The steel action plan must produce concrete support schemes and be implemented fast,” said Kerner, who also added, “the current crisis and the resulting underutilisation of the sector can lead to massive liquidity problems and requires the backing of the federal government and the states.”


Kerner went on to state that “only then will we be able to produce ‘green steel’ in Germany,” likely referencing the federal government’s €9bn ($10.3bn) National Hydrogen Strategy which aims to decarbonise key sectors such as steel, through the use of “green hydrogen”.


(€1 = $1.14)

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