19 June 2009

Iron Ore Producer Drops Prices 28.2%

Here is yet another example of the budding deflationary process at work. And yet there are people still scared of inflation? From where I'm sitting, prices just keep dropping. Sure, we've had a bit of a bounce with the summer bear market rally, but the signs that prices will just keep falling when this rally fades just keep growing.

Vale SA, the world’s largest iron- ore producer, said it agreed to cut
prices for the steelmaking raw material for ArcelorMittal by 28.2 percent

Of course, don't forget to check out my classic in-depth podcast on the case for deflation.

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