From MEMA Industry News
Raw materials used to make steel could rise 30 percent to 50 percent this year, the Wall Street Journal reported Wednesday.
The paper said suppliers of iron ore and coking coal are negotiating with steelmakers over contract prices for the remainder of 2005.
Iron ore could rise to between $30 and $57 a ton, from $23 to $38, depending on grade, the Journal said.
North American steelmakers have stronger relationships and contract with suppliers and could be less affected by increases, which would be felt worldwide, the paper reported.
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