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This paper presents a fast tracking algorithm capable of estimating the complete pose (6DOF) of an industrial object by using its circular-shape features. Since the algorithm is part of a real-time visual servoing system designed for assembly of automotive parts on-the-fly, the main constraints in the design of the algorithm were: speed and accuracy. That is: close to frame-rate performance, and error in pose estimation smaller than a few millimeters. The algorithm proposed uses only three model features, and yet it is very accurate and robust. For that reason both constraints were satisfied: the algorithm runs at 60 fps (30 fps for each stereo image) on a PIII-800 MHz computer, and the pose of the object is calculated within an uncertainty of 2.4 mm in translation and 1.5 degree in rotation.