Salzgitter CEO: Germany's Salzgitter has at least 50% of its gas hedged as the Iran war continues.

Salzgitter's CEO said that the company had hedged against rising gas prices. The group has locked in over 50% of its costs for this year and the next, as the Middle East conflict continues to have a ripple effect on the energy markets.

Gunnar Grbler said after the company?released its full-year results that they were "very well hedged" in the gas market through 2026, and to a certain extent 2027. He added that the hedge rates for power prices were even higher.

Groebler noted that the company was suffering from major price hikes for the gas it purchases on the spot market. It also mentioned the increase in freight costs as a result of the U.S./Israeli war against Iran, which has affected large sectors of Europe's industry.

Groebler stated that Salzgitter is Germany's second largest steelmaker, after Thyssenkrupp. They have therefore begun discussions with clients on how to pass these price increases onto their customers.

The company's shares fell by 8.2% after reporting a 15.5% decline in its core profit for 2025, which was 376 million euro ($434 millions). It also warned that the German economy would be in a "tense" state at the beginning of 2026.

(source: Reuters)