Salzgitter’s subsidiary raises plate prices

German steel giant Salzgitter AG announced yesterday, February 18, that, against the backdrop of significantly improved order intakes and a pleasing order book situation, its plate producer subsidiary Ilsenburger Grobblech (ILG) will be raising its heavy plate prices by €30/mt ($41/mt) for all new orders with immediate effect.
 
The price increase applies to the sales of both heavy plate mills of Salzgitter Group, namely, Ilsenburger Grobblech and Salzgitter Mannesmann Grobblech, Mülheim. The higher prices are urgently needed since high raw material and energy cost levels in conjunction with the recently fiercely competitive market environment led to significant losses, the company stated.
 
€1 = $1.375