In a statement, the association said prices should be capped on 80% of consumption. 

“The significant increase in natural gas and electricity prices in the steel industry is leading to an increase in energy costs of more than EUR10 billion per year compared to the spring of last year. This is a dramatic burden on steel production in Germany and threatens its international competitiveness,” said WV Stahl president Hans Jürgen Kerkhoff. “We must prevent the acute and profound crisis from leading to lasting damage to the industrial foundation of the German economy.”