Feralpi Stahl, a German electric arc furnace steelmaker, faces surging energy costs, tightening scrap supply, and logistics bottlenecks in 2026. Natural gas prices in Germany jumped over thirty percent after the US-Iran conflict began, pushing electricity costs well above government targets. Despite investing over two hundred and twenty million euros in low-carbon production at its Riesa plant, customers refuse to pay any premium for green steel. The company calls for stronger government support to make the green transition commercially viable for mid-sized producers.