Germany-based steelmaker Salzgitter Group's section producer subsidiary Peiner Träger GmbH has informed its customers that it has decided to suspend the publication of its scrap surcharge until further notice, following similar decisions by several European section producers.
The company said that its contracts and offers are based on the price list from February 1, 2010, and that for existing contracts the scrap surcharge for May 2010 amounting to €243/mt remains valid as well as separate scrap cost related price agreements.
The volatility in the raw materials market has forced steelmakers to stop publishing scrap surcharges.