Fitch Ratings expects that global steel prices will even out in 2008 once cost inflation of raw material is absorbed, according to a new report. Prices increases for steel have been rampant during the first six months of 2008 as companies seek to pass through increased raw material costs. Fitch expects further consolidation in the steel space. Steel producers have been acquisitive to diversify geographically, to rationalize production and to gain access to raw materials.
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