Iron ore market – alternative
2009/2010/2011 • 2009 iron ore production decline. 2010 no growth or possibly small decline. 2011 return to slow growth. • Spot price may provide a floor for contract prices - freight rates remain low • The market will return to fast growth in 2012. Structural factors – unchanged. • Prices: 2009 – 25/35 %, 2010 flat, 2011 up?
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