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关于微观经济题求解~英文的哈~

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关于微观经济题求解~英文的哈~
australian mining companies are poised to benefit from a massive increase in the price of iron ore. Japanese steel mills have agreed to an annual price increase of more than 71 per cent. The world's biggest iron ore producer, Brazil's CVRD, secured the record price increase from Nippon Steel. UBS resources analyst Glyn Lawcock says the record price rise is set to benefit Rio Tinto and BHP Billiton in australia. 'it's an exceptional increase against what we were expecting and what the market was expecting'he said.'we were looking for a 40 per cent price rise, the market was probably in the 40-50 per cent expectation as well, but i guess when we look at what we've just seen for hard cocking coal, a 120 plus per cent, 71 per cent doesn't seem that exceptional'
问题有两个1 explain why the price of iron ore has gone up by a large amount
2 What does the article imply about the elasticity of demand and supply for iron ore?
答案最最关键的是详细,越详细越好,不要笼统的答案.用中文写出来也可以,最关键是详细啊啊~~~因为要求字数的.占期末成绩的40分的大作业~~请大家帮帮忙了~~写得好的有追加~~~
1,主要是由于炼焦煤的价格涨幅为120%,铁矿石和炼焦煤(原文的cocking应该是coking)均是炼铁的重要原料,因此两者的价格走势有很大的相关性.炼焦煤价格涨幅为120%,铁矿石的长期协议价格也应该比较高.
2,如果铁矿石价格上涨迅速,会有大量的资金投入到铁矿石生产方面,会造成供应量迅速增加.另外,如果价格上涨过快,下游的钢铁生产企业会面临成本过高的压力,如果钢铁企业减产或破产会造成铁矿石需求量下降.