铁矿石定价的细微之处可能难以吸引外人的注意。但这次的情况有所不同。已经达成的协议转向以现货价为基础的季度合约,这标志着已持续40年的年度基准合约体系寿终正寝。此举影响深远,从钢材价格,到巨额衍生品市场的发展。新的体系并不完美,但强于已经过时的旧体系。 The nuances of pricing for iron ore may not be attractive to outsiders. But this time the situation is different. The agreement that has been reached has turned to quarterly contracts based on spot prices, marking the end of the 40-year annual benchmark contract system. The move has far-reaching implications, from steel prices to the development of huge derivatives markets. The new system is not perfect, but stronger than the old system is out of date.