Dow Jones reported that globally diversified miner Anglo American PLC has no intention to move to the spot iron ore market, preferring its current quarterly pricing system over a monthly pricing system.

Mr Daniel Botes, the head of the company's China marketing and sales said that that its current quarterly pricing system encourages.

Global iron ore miners last year switched to a quarterly pricing system from a 40 year old annual pricing mechanism. The switch was attributed to volatile global iron ore prices.

(Sourced from www.dowjones.com)