PARIS – Rising steel prices ultimately will result in higher car prices in France and throughout Europe, say analysts at Euler Hermes, a French company that insures receipts. There is not enough margin in the industry to absorb the already existing 80% increase in spot steel prices from 2004, and more price hikes are expected this year due to still rising worldwide demand. The pressure is greatest on Tier 2 suppliers, which traditionally buy steel on short-term contracts or even at the ...
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