After months of negotiations, China's steelmakers agreed to pay up to double the price for the iron ore they buy from Rio Tinto, the biggest-ever annual rise in the cost of the commodity.
ECONOMIST: Business this week
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The rusty iron chain that double-locked the cart to the front wheels of the cycle began to squeal as he rode.
NEWYORKER: The Elephant
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The company said it expects iron-ore production to almost double and that its steel business would improve as well.