re: india has signed 2006 iron ore contract Are you aware that India's prices were higher to begin with???????
Check your facts!
In any event, CVRD, RIO and BHP control over 70% of global supply.
If buyers and sellers do not sign new contracts, existing contracts ride until 30/6/06, with back-dating of any subsequent increment.
After 1/7/06, they trade on spot prices!
Spot price is now around 35% higher than 2005 contract.
Do the maths.
india has signed 2006 iron ore contract with china, page-2
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