German steelmaker Salzgitter Flachstahl GmbH has increased its flat steel prices by €30/mt ($39/mt) with immediate effect for all new orders.
Salzgitter Flachstahl has announced that, against the backdrop of another increase in raw material costs and extremely tight margins, higher sales prices have become essential.
Notwithstanding the comparatively satisfactory general order situation, the high cost levels of raw materials and energy at Salzgitter Flachstahl have resulted in significant losses in recent months.
Furthermore, Salzgitter Flachstahl anticipates that demand will pick up momentum at the start of the New Year, primarily due to the currently low levels of inventories, accompanied by the still satisfactory capacity utilization of steel processors in Germany.
€1 = $1.31