U.S. steel costs are higher than anywhere else in the world, they're certainly up year over year and they're up versus what we were expecting - Joe Hinrichs, Ford VP
The logic is sound: If steel mills are given pollution restrictions, they will use the best possible quality iron ore to maximise the amount of steel produced relative to the energy consumed.
The move is part of BASF plans to invest up to 400 million euros ($462 million) as a first step in building production plants for cathode materials in Europe.
