Nippon Steel hires Mike Pompeo to advise on US Steel deal
Nippon Steel also faces objections from the powerful United Steelworkers (USW) union, which fears the deal could lead to job losses.
Lower oil prices and weakening currencies – the Canadian, Australian dollar and South African rand have fallen 6–8% against the USD in recent months – have take the some of the sting out of falling commodity prices.
But with iron ore down 40%-plus, met coal at seven-year lows, gold and silver near four-year lows and copper down 10% year to date, it’s not going to be enough for many miners:
A simple rule of thumb for commodity producers is that price changes have a two-to-one impact on the bottom line, while cost changes have a one-to-one impact.
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