Germany's Salzgitter is at least 50% hedged for gas, CEO says

Salzgitter AG

23/03/2026 07:37

FRANKFURT, March 23 (Reuters) - Salzgitter has hedged itself against soaring gas prices, the German steelmaker's CEO said, adding the group had locked in more than 50% for this year and next as a spiralling conflict in the Middle East continues to ripple through energy markets.

"We are actually very well hedged in the gas market for the whole of 2026 and, to some extent, 2027 as well," Gunnar Groebler told Reuters after the firm released full-year results, adding that hedge rates were even higher for power prices.

 (Reporting by Christoph Steitz, Editing by Miranda Murray)

 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))