ArecelorMittal eyes big car steel price hike-report

Newswire

FRANKFURT, June 30 (Reuters) - ArcelorMittal intends to raise prices for automotive steel by around 60 percent in gradual steps to avoid a massive increase next year, a German car magazine reported. Asked by German car magazine Auto Motor und Sport about potential price increases of 60 percent, the steelmaker's head of automotive operations, Jean-Luc Maurange, said: "Our costs have risen to that extent. We are seeking progressive ways to adjust prices successively to be able to avoid a ...

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