German steelmaker Peiner Trager GmbH (Salzgitter Group) has announced an increase of €100/mt ($128/mt) in its steel section prices effective from November 26, 2012 onward, valid for its entire range of heavy, medium and light sections.
The company stated that the increase was necessitated by the price erosion that has taken place over the course of 2012 and the currently high volatility of scrap costs. It is being implemented in anticipation of production costs continuing to climb in 2013.
According to Peiner Trager, as lower levels of inventory stocks are expected at the end of 2012 in Europe, demand is set to pick up momentum in January and settle at normal levels.
€1 = $1.28