The hottest iron ore spot trading platform has ach

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On November 15, the current trading volume of China's iron ore spot trading platform has initially reached expectations, and the benchmark price of the platform is basically consistent with third-party data, and is constantly improving. Combined with the actual transaction price and off platform price fluctuation, the trend of spot price of iron ore can be revealed. Guoxiaojie, vice president of Beijing International Mining exchange, said

since the collapse of the annual long-term association pricing mechanism of iron ore in 2010, iron ore pricing methods have emerged one after another, but no one has dominated the market

5.29 million tons have been traded on the spot platform

Guo Xiaojie said that as of November 13, a total of 917 transactions had been traded on China's iron ore spot trading platform, of which the inquiry sheet was about 8000. The corrosion friction and wear tester measured the wear resistance of the relevant alloy, million tons, 28 million tons for the purchase order, 51.8 million tons for the sale order, and 5.29 million tons for the actual trading volume

China iron ore spot trading platform was jointly established by China Iron and Steel Industry Association, China Minmetals and chemical industry import and Export Chamber of Commerce and Beijing international mining rights exchange in January this year, and officially launched on May 8. The launch of the platform marks China's phased progress in exploring a more fair and transparent iron ore pricing mechanism

it is understood that at present, China's iron ore spot trading platform has 191 members, including 81 steel enterprises, 103 traders and 7 foreign mining enterprises

Guo Xiaojie told that China's iron ore spot trading platform reflects the role of the market in allocating resources to truly reflect the supply and demand relationship in the iron ore market. In the future, we should further improve the service level, strive to achieve more trading volume and compete with other trading platforms

following China's iron ore spot trading platform, globalore, an iron ore spot trading platform headquartered in Singapore, officially began to use to bring production and promote ease of use with production on May 30. According to Lu Shen, marketing manager of globalore, Baosteel, Minmetals and Hunan Valin steel from China have developed iron ore for a long time. Swiss energy trading giant Glencore and the "three mines" have become its founding shareholders. At present, there are 64 members and five specifications of iron ore varieties are traded

however, globalore1's reasons for drug expiration and weak sealing have hit people's reputation and safety of goods. Transaction data show that in October, its trading days with trading volume were only more than 10 days, and most of them were small orders of more than 100000 tons. Lu Shen admitted that at present, it is still in the early stage of development, and the trading volume is not large. Trading volume is very important for trading platforms, and more exploration and efforts are needed to attract traders

the trading platform is highly competitive

Liu Yanling, senior manager of the Chicago Mercantile Exchange, said that since the international iron ore price has changed from a long-term association to an index, iron ore prices have fluctuated more, and all participants in the steel industry need tools to manage risks and realize price discovery. The range of trading varieties of the Chicago Mercantile Exchange involves almost all links of the steel industry, including rebar, iron ore, coke, scrap and other varieties. At present, the Chicago Mercantile Exchange is pushing forward iron ore futures trading

in fact, there are far more iron ore trading platforms with financial attributes on the market than spot platforms. "There are many pricing modes, such as index, futures, swap, spot, etc. but the iron ore market is large, and no mode can rise to the 'pricing power' mode." Song Tianxiang, my executive vice president of iron and steel, said

on November 7, liuxingqiang, general manager of Dalian Commodity Exchange, said that the CSRC had approved the listing project of iron ore varieties. This means that in the iron ore trading market, there is a new trading platform to choose from. This will compete directly with the Chicago Mercantile Exchange. In response, Liu Yanling said, "competition is inevitable. After all, there is no way to monopolize this market."

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