China Launches Physical Iron Ore Trading

Mineweb reported China launched a new physical iron ore trading platformwill help strengthen its pricing power and wrest control from global ore suppliers.

As quoted in the market news:

The China Beijing International Mining Exchange (CBMX) launched the online platform together with the China Iron & Steel Association (CISA) and the China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters.

CBMX also launched a new pricing index that it hopes will better reflect actual supply and demand and eliminate the effects of speculation and manipulation.

Click here to read the full Mineweb report.