The key ingredient in stainless steel, which topped $50,000 a metric ton in 2007, has barely risen above $10,000 in eight months. Between 60 percent and 70 percent of producers are losing money at current prices, Ivan Glasenberg, chief executive of the fourth-biggest producer, Glencore, told an investor call in December. In trying to deal a blow to a mining industry he accuses of "spoiling the land," Philippine President Rodrigo Duterte, also known as the "Punisher," may have just done global producers a favor. ...
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