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Steel prices will rise 40% in Europe in 2008 - Deutsche Bank
Contact nowGermany's biggest bank Deutsche Bank AG said that steel in Europe in 2008 will be 20% more expensive that it previously predicted.
The bank forecast hot rolled steel coil at USD 930 a tonne in 2008. Mr Timo Pirskanen analyst of Deutsche Bank in a report said that it is 40% more than last year.
According to Metal Bulletin data, Weatern European hot rolled coil, an industry benchmark almost doubled this year to USD 1,052 a tonne.
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