Iron ore producers hold key to market�s direction

Michelle Wiese Bockmann - Monday 23 November 2009

THE immediate direction of the capesize market now rests in the hands of iron ore producers, after rates came down to earth with a thud, ending a shortlived spike in the Pacific trading region.

The rates roller-coaster came after a shortage of immediately available vessels saw miners forced to pay 13-month highs for Pacific round voyage rates tran...