How different the Japs are to approaching the issue of high IO prices! Instead of trying to Jawbone it flags with the end users it must increase steel prices to ensure supply.
This speaks to understanding the market & a pragmatic acceptance that it has to push up prices. Steel prices in Jap are lower than the result of the world largely. And end consumers like Toyota have had a great deal for a while - these twice yearly pricing negotiations have served them very well recently. Get ready for more expensive Toyota's, Mitsubishi's etc!!!
Iron ore price, page-32732
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