Japan to Monitor Prices of Steel Ore, Government Spokesman Says

Bloomberg.com

Japan will monitor prices of iron ore because increasing costs of the material may hurt the country’s steel production, Chief Cabinet Secretary Hiroyuki Hosoda said.

Nippon Steel Corp. and JEF Holdings Inc. said they will pay Brazil’s Cia. Vale do Rio Doce 71.5 percent more for iron ore starting April 1.

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