USA: Delphi cannot afford US steel - FT
Automotive Newswire from BRG Townsend, Inc. reports that Delphi Corp. has warned its suppliers that it is moving its steel contracts offshore because steel made in the US is too expensive. Citing the Financial Times as source, the report says that Delphi reported that its annual steel tab runs about $1 billion and it was buying some 98% of its steel from U.S. companies.
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