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Automotive Steel, 23 Million Tons of It,
Going up in Price by 5-10 Percent

Automotive Steel, 23 Million Tons of It,
Going up in Price by 5-10 Percent

Wednesday, November 13, 2002
 
U.S. steelmakers will receive price increases as high as 10 percent on steel sold on long-term contracts to domestic automobile manufacturers. This year, 23 million tons of the 77 million tons of steel made for the automotive industry was up for contract renewal. The price hike awarded to steelmakers comes on the heels of a recent leveling off in spot-market prices. It's the first increase in at least seven years.

 

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