GREY:AUAYF - Post by User
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Racket1on Feb 12, 2005 10:51pm
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Post# 8582262
totally unreasonable and disproportionate
totally unreasonable and disproportionate Steel companies warn of large price increases
By Michael Gassmann in Dusseldorf
Published: February 11 2005 02:00 | Last updated: February 11 2005 02:00
European steel companies yesterday warned of substantial price rises for steel following plans of Brazil's Companhia Vale do Rio Doce, the world's largest ore producer, to increase the cost of its raw material by 90 per cent.
The increase is "totally unreasonable and disproportionate to market conditions, which are not fundamentally different from 2004", the European Confederation of Iron and Steel Industries said in a statement.