High steel price not good news for auto parts makers

Newswire

By Steve James NEW YORK, Feb 16 (Reuters) - Sky-high steel prices may be cheering the steel manufacturers, but they are killing the automotive parts industry, a study by the Motor & Equipment Manufacturers Association (MEMA) charged on Wednesday. The association, which represents 750 auto-supply companies, also alleged the U.S. government, by relaxing tariffs on imported steel, has assisted in the crisis for the parts makers. "We're not saying steel companies can't make money, ...

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