German-based Ilsenburger Grobblech GmbH (ILG), a subsidiary of German steelmaker Salzgitter, has announced an immediate increase of €30/mt ($39/mt) for its heavy plate prices for all new orders.
The producer explained that the price increase reflects the rising costs of raw materials and resulting unsatisfactory earnings.
Furthermore, Ilsenburger Grobblech GmbH indicated that its order intake has picked up notably in recent weeks amid already satisfactory capacity utilization. ILG attributes this development to steel traders' stock replenishments in the run-up to the New Year.
€1 = $1.30