Talk by Vale Inco Ltd that it was looking to sell more of its iron ore at spot market prices rather than via fix contracts could have a significant impact on the global carbon steel sector - not to mention the commodity's value. Hurt by its reliance on the benchmark system during the global financial crisis, the company recently stated its sales price would now reflect market value and suggested the days of having a static annual sum based on a free-on-board arrangement were gone.
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