Steel costs starting to pinch U.S. companies
CHICAGO (Reuters) - U.S. manufacturers, which had shrugged off the domestic economic downturn and reported consistently strong profits thanks to overseas demand, are starting to look vulnerable as the price of key materials like steel continue to rise.
Global steel prices are up 40 percent since the beginning of the year and the pressure is showing up in a number of top U.S. companies’ results, including construction and mining equipment maker Caterpillar Inc
Technorati Tags: steel costs,industry
Posted: May 16th, 2008 under Steel Comment, Steel News, Steel Prices.
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