Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (73029)	4/2/2010 10:32:05 PM
From: Snowshoe	of 74559

Steel makers cry foul over iron ore prices smh.com.au [Snowshoe: It's war! Brazil fires fires back at greedy Europeans...] BHP Billiton or Rio Tinto refused to comment. But Brazil's Vale referred journalists to an audio clip on its website where the company's president, Roger Agnelli, said Eurofer ''seems to have forgotten that the era of colonisation is over''. ''The days when the production of developing or underdeveloped nations sustained or subsidised their well-being no longer exists,'' he said. Brazil's mining institute also claims that maintaining current iron ore prices - as Eurofer wants - would have a significant impact on the country's balance of trade and was an unfair effort by European industry to impose their prices on raw material suppliers.

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