Steel prices boosted Germany’s second-largest steel company profit surge

Steel prices boosted Germany’s second-largest steel company profit surge

Germany n-tv television news site reported on Nov. 14th that the Germany’s second largest steel company Salzgitter, in the first nine months of this year to achieve the highest profit in nearly a decade, profits from the previous year’s 14.6 million euros climbed to 112.66 million Euro, sales increased by about one-sixth to 6.8 billion euros.

Forman, chairman of the group, said that with the increase of profits benefited from rising orders, flat steel prices, the trade situation improved, while the company’s savings plan also played an important role.

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