MARKETS SPECTATOR: Miners want a Vale-China battle

Australia's iron ore miners held their collective breath when one of Vale's very large ore carriers docked in China last week, but it may have been a false alarm.

BHP Billiton and Rio Tinto could have been forgiven for uttering a shriek when news last week broke that their biggest iron ore rival, Vale, had berthed one of its 400,000 deadweight tonne vessels at a Chinese port. The shipping industry was breathless in anticipation that Vale and China had finally ended a dispute that has prevented Vale from exporting its iron ore via the largest bulk carriers in the world.

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