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How to Bend Markets

Innovation, of course:

The WSJ has an article today about innovation blowing up the commodity industry….

The price of nickel, a metal used to make stainless steel for everything from sauce pans to guitar strings, spiked past $50,000 a metric ton in 2007 from less than $10,000 just a few years earlier….

The innovation has sent nickel prices tumbling to less than $14,000 a metric ton, and turned China into a leading nickel producer. The country now turns out more than 400,000 metric tons of nickel pig iron a year, equal to a fifth of world-wide demand.

It works!  In fact, it’s pretty much the only thing that works.  As long as it’s real innovation, of course.

Posted in Business.