Thyssenkrupp's stock jumped 4% Wednesday after Reuters reported the German industrial giant is considering spinning off, listing, or selling its materials trading division. The move, part of CEO Miguel Lopez's broader restructuring strategy, could see Thyssenkrupp Materials Services (MX) go public as early as autumn.

MX generates over a third of group sales with 11.4 billion euros in revenue last year. The company is evaluating converting MX into a KGaA structure, allowing parent control even after majority stake sales. While discussions are ongoing with no final decisions, Thyssenkrupp stated MX is "well on track" to become capital-market ready.

A successful divestment would depend on improved performance in MX's second fiscal quarter ending in March. The division operates in metals and raw materials trading with the U.S. as a key market where consolidation among rivals is accelerating. MX ranks fourth among U.S. steel service providers behind Reliance, Ryerson/Olympic Steel, and Kloeckner. Based on valuation multiples from recent deals, the unit could be worth around 2 billion euros.