Salzgitter’s Q2 steel price hikes will not be ‘across the board’

Yahoo! Finance

SALZGITTER, Germany (AFX) – Salzgitter AG said its planned steel price increases of 15 eur per ton in the second quarter cannot be implemented to all customers, according to chief executive Wolfgan[g] Leese.

‘We wanted to increase steel price by around 15 eur per ton, but will not be able to implement this across the board.’

Salzgitter announced the price increases in February in reaction to rising raw material costs.

Leese added that Salzgitter will follow other steel manufacturers and agree to a 71 pct price hike for iron ore.

‘We won’t be able to get around it,’ Leese said.

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