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According to Bloomberg, Posco has said they are talking to Vale about reverting back to annual iron ore contracts.  We have believed that this was going to happen for awhile now, so we suspect this will be happening in the near future.

Historically annual contracts have worked better for buyers than sellers for a number of reasons.

Our full report is available to subscribers only and provides further details regarding the implications for both steel mills and iron ore miners, as well as the impact on equities.

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