On August 11, Germany-based steelmaker Salzgitter Group issued the key figures of its financial results for the first half of 2011, posting a positive outcome in sales revenues due to higher selling prices.
According to the financial results, a pre-tax profit of €130 million was registered in the first half of 2011, compared to a pre-tax loss of €5.1 million in the first half of 2010.
In the period in question, external sales revenues of Salzgitter increased by 18 percent to €4.7 billion compared to €4.03 billion in the same half of the previous year.
The company anticipates that the fundamental trend in the European steel market, reflecting the improvement in bulk steel business and the high quality segment, will continue in the second half of the year, as import pressure on commodities is likely to ease only slightly.