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"Steel prices could rise by 40%, and such an increase would delay the resumption of economic growth, writes Le Figaro. After 2009 reached a rec ...
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Steel price
Date: 2010-06-09
"Steel prices could rise by 40%, and such an increase would delay the resumption of economic growth, writes Le Figaro. After 2009 reached a record high, the price of steel and could resume growth since the second quarter of this year .
"If this happens, the crisis recovery process of the European economy, already fragile, would be even more put to the test," he warned Gordon Moffat, director general of Eurofer, Steel Manufacturers Association of Europe, including members of which is Archelor Mittal and ThyssenKrupp.
Steel producers blame the three main mining companies - BPH Billiton, Rio Tinto and Vale - which delivers iron ore. Under their current negotiations between steel makers and mining groups likely to result in an increase of 80% iron ore price. And carbon prices rose at the same pace, along with the scrap.
"The price of a tonne of carbon steel will rise from 400 to 550 euros in the second quarter, according to estimates Archelor Mittal. However, it will not reach record levels in 2008 - 750 to 780 euros per tonne.
Before steel producers managed to increase the price without this have major repercussions on them. Then came the crisis and the situation has changed.
Price increases from China and Brazil led to lower demand for steel. But Europe has not entered into this category. But eventually the inevitable price rises have affected the west. For companies such as ThyssenKrupp, which had already probeleme was practically impossible to avoid losses. Steel makers think the solution would be to renegotiate contracts, even with customers who have annual supply contracts, such as car manufacturers.
In parallel, steel producers are trying to face three major mining companies, which control 70% of world exports of iron ore, which is already Asia privileges at the expense of Europe.
"Their dominant position among them is enough to give the signal and the price will be similar in all," said George Moffat, who estimated that a trial in Brussels would have no chance of success "
Source: Ziarul Financiar
