SJF Material Handling Blog

LONDON (MarketWatch) — European trade groups Eurofer, which represents steelmakers, and Orgalime, which represents industrial firms, said they “condemn” attempts by iron-ore producers BHP Billiton, Rio Tinto and Vale to increase prices by 80% or more. Vale this week reached a deal with Japanese steelmakers to up prices by 90%. The trade groups said the miners already have profit margins of up 50% per metric ton and that the price increases may place in jeopardy the fragile recovery of the manufacturing industry.

This entry was posted on Thursday, April 1st, 2010 at 10:08 am and is filed under Industry News, Steel Prices. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.