Vale- the Brazilian iron ore mammoth signs a deal with a Chinese steel firm to supply iron ore linked to the prices of iron ore on the Dalian Commodity Exchange in China.
- The agreement marks the very first entry of an international iron ore supplier to use mainland iron ore futures price to trade in physical.
- Under the agreement, the Shandong-based Yongfeng Group would buy the iron ore, the prices of which would be linked to the DCE iron ore May 2020 future prices.
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Those phrases have become increasingly common as marijuana legalization spreads.
Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.
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