Spot iron ore prices are market indicator Martins

Dec 07, 2007 | 12:37 PM |

Spot iron ore prices, which have doubled over the last 12 months, have become an iron ore market indicator, Jose Carlos Martins, ferrous director of Brazil's Vale, told journalists Friday.

"Spot market prices may no longer be disregarded," Martins said. "They have become a market indicator. In the past there was available structural capacity to meet iron ore contract demand, but this spare capacity no longer exists," he said.....





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