ThyssenKrupp to increase flat product prices

ThyssenKrupp to increase flat product prices

German steel producer ThyssenKrupp reportedly plans to raise its flat rolled steel prices by €15-30 effective as of April 1, 2005. According to industry sources, ThyssenKrupp will increase hot rolled coil and several other products by €15 per ton, and the price of heavy steel plates will go up €30 per ton. 40% of ThyssenKrupp's products will be affected by these price hikes. The remaining 60% will be sold under contract at prices fixed last year. Strong demand from China is the main reason behind the price hikes, according to the company.