December 02, 2008

Salzgitter to increase Q3 steel prices by EUR 50 per tonne

Reuters, citing Mr Wolfgang Leese CEO of Salzgitter, reported that Germany's second largest listed steelmaker Salzgitter will raise prices in the third quarter by EUR 50 per tonne.

Salzgitter had said late last month it would raise prices again in the third quarter following a EUR 100 per tonne hike in the second.

Mr Leese cautioned that the price it pays for coking coal could rise to USD 350 per tonne to USD 370 per tonne from a current USD 300 per tonne.

Mr Leese said that the first quarter developed in line with plan and he saw no reason to question his full year guidance.