BUENO AIRES - Lakshmi Mittal, president of Arcelor Mittal, said the iron ore market remains tight and that he does not expect prices to fall next year. "I don't expect an increase, but I don't see iron ore prices falling either," Mittal told MB in an interview at the International Iron & Steel Institute's annual congress in Buenos Aires last week. Annual benchmark iron ore prices have more than doubled in the last couple of years after increases of 19 percent and 71.5 percent in 2006 and 2005 respectively. Mittal said the surge in Chinese steel exports this year has not changed his views on China, where burgeoning steel demand has caused the tightness in the iron ore market.
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