Agnelli expects iron ore talks to drag on

Dec 10, 2007 | 08:59 AM | Diana Kinch

The climate for the current annual iron ore contract price negotiations is "marvelous" but they could drag on due to disparities in the market, according to Vale president Roger Agnelli.

"Market demand is strong. However, due to the disparities, the conversations could take a long time," he said during an end-of-year luncheon address. "Today there is great distortion between spot and contract prices. The spot market has grown considerably to 300 million tonnes per year. Freight rates also are very high.....

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