Rising Iron Costs Spell Tough Year For Steel Makers

Chinese and Japanese steel makers are bracing for a tough year amid steadily rising raw materials prices, particularly iron ore. After negotiating a new round of price hikes with suppliers, they will attempt to pass on the added costs to customers.

Many small and mid-sized Chinese steel makers, including Jiangsu Shagang Group, Laiwu Steel and Baotou Steel, have already raised prices on a range of various products in anticipation of a similar move by China’s largest steel maker, Baoshan Iron & Steel, or Baosteel, for short.

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- Posted: 2008-02-22 09:42:09

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