Salzgitter to hike flat steel prices

Salzgitter to hike flat steel prices

German steel producer Salzgitter AG announced that it would hike its flat steel prices by €30 per ton as of October 1, 2005, due to an increase in orders and a decline in customers' inventories. The move follows Arcelor's announcement last week to hike its prices in the fourth quarter. Arcelor stated that the price hike would be less than 10 percent. Salzgitter did not announce any plans to hike its long product prices.