Scrap Prices Show Upward Momentum
After a downturn at the end of April 2025, steel scrap prices largely stabilized in May and have recently begun trending upward again. Scrap dealers are optimistic, anticipating stronger demand and further price increases heading into June.
Stainless Steel Scrap on the Rise
In Asia, stainless steel scrap prices have shown notable recovery. Since late April, prices have surged by over 4.6%. Compared to the beginning of the year, the price of 304 stainless scrap has climbed nearly 10%, reflecting renewed demand and tighter supply conditions.
Controversy at Thyssenkrupp: Politics Meets Corporate Leadership
Political Remarks Stir Industry Backlash
A political controversy has emerged surrounding Miguel López, CEO of thyssenkrupp AG since June 2023. A press release from the SPD parliamentary group in North Rhine-Westphalia (NRW) quoted its leader, Jochen Ott, labeling López as “the worst manager in Germany.” Ott, a former history and social science teacher turned career politician, has not worked in education since 2010.
A Manager Under Political Fire
López, an experienced business economist and MBA with decades of private sector leadership, is now overseeing a critical restructuring of the struggling thyssenkrupp conglomerate. With roughly 100,000 employees globally, the company is considering a split into individual business units, with its parent entity possibly transitioning into a financial holding company.
A Legacy of Subsidies and Structural Challenges
Thyssenkrupp, best known as Germany’s largest steel producer, has received substantial public funding — most recently €2 billion for green steel initiatives. Critics question the long-term viability of such projects, raising concerns about ongoing public investment in an unwieldy industrial giant.
The Role of Political Expertise in Business Decisions
Lack of Business Experience Undermines Critique
The SPD’s harsh critique has sparked debate about the appropriateness of political figures evaluating complex business strategies without a background in corporate management. While politicians can develop economic knowledge over time, Ott’s career offers little indication of such experience, and he has previously voiced anti-capitalist sentiments.
Entrepreneurs Face the Risk—and the Responsibility
In contrast, business leaders must make high-stakes decisions daily, often with incomplete information. Success is never guaranteed, but risk-taking is essential. Whether López’s strategy to restructure thyssenkrupp proves successful remains to be seen — but it is a decision rooted in corporate responsibility.
Conclusion: Who Bears Responsibility?
If thyssenkrupp’s restructuring succeeds, it may offer a new path forward for the industrial giant. If it fails, some may point fingers not just at the CEO but at the political interference that has long shaped the company’s trajectory.
As public funds continue to support legacy firms, it becomes increasingly important to distinguish between business decisions and political narratives — and to hold the right people accountable when outcomes fall short.
