Global miners BHP Billiton, Rio Tinto and Vale of Brazil will demand further price increases for steelmaking commodities iron ore and coking coal, as strong Chinese demand and supply disruptions keep the market tight.

　　全球矿商必和必拓(BHP Billiton)、力拓(Rio Tinto)和巴西淡水河谷(Vale)将要求铁矿石和炼焦煤等炼钢用大宗商品进一步涨价。目前中国强劲的需求和供应中断使市场持续吃紧。

　　The cost of iron ore and coking coal is key to the global economy as it filters into steel and ultimately everyday goods.

　　铁矿石和炼焦煤价格通过钢材，最终传递至各种日用品，因而对全球经济而言十分关键。

　　Mining and steel executives said, on average, iron ore prices for the third quarter would rise by 30-35 per cent while coking coal prices would increase by 10-15 per cent, either pushing up the cost of steel or denting steelmakers' profits.

　　矿业和钢铁业高管表示，第三季度铁矿石平均价格将上涨30%至35%，炼焦煤价格将上涨10%至15%。其结果要么推高钢材价格，要么压缩钢铁制造商的利润。

　　These rises come on top of increases of 90-100 per cent for iron ore and 55 per cent for coking coal in the second quarter, which triggered fears of higher inflation in emerging nations.

　　此前，第二季度铁矿石价格已经上涨了90%至100%，炼焦煤价格也上涨了55%，这引发了人们对新兴国家通胀加剧的担忧。

　　The rises, which cover the July-September period, will be the first triggered by the new quarterly pricing system linked to the spot market. The scheme replaced the 40-year-old benchmark system of annual contracts and lengthy price negotiations this year.

　　今年7月至9月的第三季度，与现货市场挂钩的新季度定价机制将首次触发涨价。今年，该定价机制取代了有40年历史的年度合约基准定价机制，省却了冗长的价格谈判过程。

　　“The super-cycle for bulk commodities remains on track,” said Melinda Moore, commodities analyst at Credit Suisse.

　　瑞信(Credit Suisse)大宗商品分析师梅林达•摩尔(Melinda Moore)表示：“大宗商品仍处于超级周期。”

　　Ekkehard Schulz, chief executive of Germany's Thyssen-Krupp, one of the world's largest steelmakers, warned at the weekend of a bubble in raw materials.

　　德国蒂森克虏伯(ThyssenKrupp)首席执行官埃克哈德•舒尔茨(Ekkehard Schulz)上周末警告称，原材料市场正出现泡沫。蒂森克虏伯为全球最大的钢铁制造商之一。

　　“The dimensions [of the bubble] could even be larger than the real estate problem in the US two years ago. If we are not prepared to take decisive action against raw materials speculators . . . they will become a serious threat to the entire steel sector and the global economy,” he told Der Spiegel magazine.

　　“[泡沫的]规模甚至可能超过了两年前美国的房地产泡沫。如果我们不准备好对原材料投机商采取果断行动……他们将对整个钢铁业乃至全球经济构成严重威胁，”他对德国《明镜周刊》(Der Spiegel)表示。

　　Steel and mining executives said iron ore prices would surge to $130-$135 a tonne, up from $100 this quarter and $60 a tonne last year. Coking coal prices would hit $225 a tonne next quarter, up from $200 in April-June and $129 last year.

　　钢铁业和矿业高管表示，第三季度铁矿石价格将从本季度每吨100美元和去年的60美元骤增至每吨130至135美元。炼焦煤价格则将增至每吨225美元，远高于第二季度的200美元和去年的129美元。

　　The final price will fluctuate from company to company due to the use of different price formulas. In general, quarterly contracts are set based on a three-month average of price indices for the period ending one month before the onset of the new quarter.

　　由于采用了不同的价格计算方法，各个公司的最终价格会有所差异。总的说来，季度合约的计算是基于截至新季度开始一个月以前的三个月价格指数平均值。

　　Companies use different systems, including one- and two-month averages.

　　各公司采用了不同的计算方法，包括一个月和两个月平均值。

　　Spot iron ore and coking coal prices hit their highest level in two years early this month as crude steel production surged.

　　随着粗钢生产激增，本月早些时候，铁矿石和炼焦煤现货价格达到了两年来最高水平。