China Launches Iron Ore Spot Trading Platform

(Beijing) – China's iron ore spot trading platform has kicked off, as part of moves to provide a counterweight to international pricing systems.

Launched on January 16, the platform was created with the aim to promote fair, "reasonable and transparent prices" for the commodity, said the China Iron & Steel Association (CISA).

The platform, with members including major domestic steel firms and iron ore traders, was jointly sponsored by the CISA, China Chamber of Commerce of Metals Minerals and Chemicals Importers and Exporters and China Beijing International Mining Exchange.