Biotech Values

[drbio45]

Iron Ore Prices -Vale is the second largest mining company in the world, so when Vale speaks, our commodities team listens. Last night Vale sent a document to its customers saying it was raising iron ore prices to $122.20 per tonne, versus $57 per tonne year last year. That is a 114% increase. I don't need a degree from MIT to know that is inflationary.

Incidentally, if you are looking for a market with duopoly pricing power, Vale and its competitor Rio Tinto Group control roughly2/3rds of the global iron ore market. So, yes, they have pricing power. And yes, when they raise price by 114% year-over-year that is inflationary for all things steel.