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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Knighty Tin who wrote (24702)3/2/2005 9:30:43 AM
From: RealMuLan  Read Replies (1) of 116555
 
Yeah, that oil $15 a barrel is a joke<g>. And Mike, you are right, BaoShan Steel has no choice but caved in for the 71.5% increase of iron ore price.

But this is beyond what China's steel industry can bear, so their demand for iron ore will be hurt. And those big three are killing goose for eggs.

They will raise the steel price, once again, for the 2nd quarter. And the end users, that is the consumers (most of them are in the developed countries), will definitely see a price increase, which will show in inflation.
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