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Politics : Ask Michael Burke

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To: Bill/WA who wrote (102274)	8/16/2005 11:37:38 AM
From: Knighty Tin	of 132070

Bill, The Chinese have been manipulating the commodities and shipping markets for decades. It is the same thing they did to iron ore when the producers raised prices. They stockpiled a gazillion tons under the old price and then bought zilch once the new price hit. They can't do it forever, but they did it long enough to scare the heck out of steel stocks and iron ore stocks. The iron ore stocks soon caught on to the scam and recovered quickly. The Chinese used that scare to get some nice shipping deals. The cost of shipping iron ore from Brazil to China is a major part of the total expense. It is nice to be the customer with the 1.3 billion citizens and huge industrial and infrastructure development going on. You really are the elephant in the pits.

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