Steel industry of Japan watching Brazil response of Vale dam calamity

Japan's steel industry is intently viewing the Brazilian government's response to the breakdown of a dam worked by digger Vale SA for any effect on iron ore creation and shipments, the leader of a steel industry amass said on Thursday.

"We don't have the foggiest idea if the ongoing rally in the iron ore market will be brief or will prompt a basic difference in the market as long as possible," Japan Iron and Steel Federation Chairman Koji Kakigi told a news gathering.

Kakigi, who is likewise leader of JFE Steel, a unit of JFE Holdings, said his organization purchases around 20 percent of its iron ore from Vale, and supplies have not been influenced up until this point.

• [Editor:janita]