ThyssenKrupp asks higher steel prices for Q3-source

Posted on 15 June 2010

Source: Reuters, June 14, 2010

ThyssenKrupp, Germany's biggest steelmaker, is asking for price increases of up to 100 euros ($122) per tonne of steel products for third-quarter deliveries, a company source said on Monday.


The source said customers who were asking for quotations from the German steelmaker for hot rolled coil (HRC), a key steel product used in making cars, were being quoted prices that were 50-100 euros higher than in the April-June quarter.


The price ranges being quoted depended on the quality of the steel, the source said.


A spokesman for ThyssenKrupp declined comment on prices.


He also said the company has no plans to idle any of its blast furnaces.


ArcelorMittal (ISPA.AS), the world's largest steelmaker, said on Thursday it was considering halting up to three European blast furnaces in the third quarter to meet lower demand.


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