The deal by Vale of Brazil and Anglo-Australian BHP Billiton with Japanese and Chinese mills marks the end of the 40-year-old benchmark system of annual contracts and lengthy price negotiations.
The agreement this week to move to quarterly contracts based on spot prices marks the end of the annual benchmark system that has lasted 40 years.
本周达成的协议转向以现货价为基础的季度合约,这标志着已持续40年的年度基準合 约体系寿终正寝。
Secondly, shock response property is analyzed, the ratios of item' s most displacement, most acceleration and shock duration to benchmark system are obtained.