Spot iron ore pricing a market indicator, Vale’s Martins says

Dec 10, 2007 | 08:19 AM | Diana Kinch

Spot iron ore prices, which have doubled over the past 12 months, have become an iron ore market indicator, according to Jose Carlos Martins, ferrous director of Brazil's Vale.

"Spot market prices may no longer be disregarded," he 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."....

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