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LUXEMBOURG, Luxembourg (May 11) – Guy Dollé, CEO of ARCELOR steel, the worlds biggest steel conglomerate commented this morning on the effect of the prices hikes in raw materials. According to him we are to expect huge increases in the price of coke and coking coal – needed for the production of steel. Also iron […]

LUXEMBOURG, Luxembourg (May 11) – Guy Dollé, CEO of ARCELOR steel, the worlds biggest steel conglomerate commented this morning on the effect of the prices hikes in raw materials. According to him we are to expect huge increases in the price of coke and coking coal – needed for the production of steel. Also iron ore will suffer under the greater demand. But his main concern for the economic stability is the position of the Dollar. When asked about the enormous economic sprint that China is making, he commented that it is not sustainable for China to have more than 20% growth in steel consumption – and it was 25% during the first quarter alone…As he put it him self: ”It is much safer for us to have a soft landing to a crash landing”. (MH)

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