ArcelorMittal says not buying iron ore on spot mkt
Published: 29 Jul 2009 01:30:13 PSTLONDON, July 29 - ArcelorMittal, the world's biggest steelmaker, said it was not buying any iron ore on a spot basis and all its ore purchases were based on traditional contracts.
"We're not buying anything on spot, we're buying all on contract price," said Lakshmi Mittal, the chairman and chief executive of the company.
He did not give a price level for the contract-based purchases of iron ore, a key ingredient in steelmaking.
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