Thyssen to hike prices on iron ore costs
ThyssenKrupp announced that the company will increase its steel prices due to higher iron ore costs. The company had already announced last month that it would increase the prices of various flat products by 15 to 30 euros per metric ton as of April 1. However, following the actual negotiations with Rio Tinto and CVRD, the company decided to add to the proposed price increases. Predictions that global steel demand will continue to rise also had a bearing on ThyssenKrupp's decision to hike its prices.