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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.29

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Nov 7 4:00 PM EST

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To: TobagoJack who wrote (29701)	2/21/2008 9:23:03 AM
From: elmatador	Read Replies (1) of 217576

Taiwan to suspend exports of steel products after soaring iron ore prices 6 hours ago TAIPEI (AFP) — Taiwanese authorities said Thursday they will temporarily suspend exports of steel billet and debar amid fears of shortages caused by soaring iron ore prices. The three-month suspension, effective from March 5, is aimed at stabilising domestic steel product prices, the economic ministry said in a statement. The ministry would also immediately impose monitoring on exports of scrap steel and H-beam steel, also for three months. It said surging steel prices are affecting public infrastructure projects and large construction projects. The suspension comes after Asia's top steelmakers said Monday they had agreed on a 65 percent rise in iron ore prices with Brazil's Vale to record levels, the sharpest gain in three years. The deal was expected to set the benchmark for global prices. Taiwan imports all of its iron ore.

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