Corus left shoulder or the foothills?

Bosch sees steel prices rising again in '06 -paper
Sat Oct 22, 2005 2:03 PM ET

FRANKFURT, Oct 22 (Reuters) - Robert Bosch GmbH [ROBG.UL], the world's largest automotive parts supplier, expects steel prices to continue to climb come next year, its chief executive told Germany's Frankfurter Allgemeine Zeitung on Saturday.

"Our earnings this year will take a hit in the hundreds of millions of euros from price hikes in steel and other raw materials," Franz Fehrenbach said in an interview.

"Unfortunately, it looks as if steel prices will further rise at the beginning of 2006," he said, adding that the group's target to achieve flat profits this year was becoming more difficult.