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What will steel prices mean for Real Estate?

Started by Riversider
almost 16 years ago
Posts: 13572
Member since: Apr 2009
Discussion about
http://www.ft.com/cms/s/0/507adfc6-3c5d-11df-b316-00144feabdc0.html Global steel prices are set to rise by up to a third, pushing up the cost of everyday goods from cars to domestic appliances, after miners and steelmakers yesterday agreed a ground-breaking change in the iron ore price system. The deal by Vale of Brazil and Anglo-Australian BHP Billiton with Japanese and Chinese mills marks the end of the 40-year-old benchmark system of annual contracts and lengthy price negotiations. The industry instead agreed to move to quarterly contracts linked to the nascent iron ore spot market.
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