Steel prices are set to soar by up to 33% according to a report in the Financial Times. This is the view expressed today after miners and steelmakers agreed a ground-breaking change in the iron ore price system, based on abandonment of the old annual 'benchmark' iron ore pricing mechanism and adoption of a quarterly spot market price related pricing scheme.
For further news on this, see original FT report.
blogger@steelonthenet.com
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