The current iron ore pricing mechanism can no longer reflect the real supply and demand situation in the market, Luo Tiejun, vice president of the China Iron and Steel Association (CISA), has stated while attending the 10th anniversary of the Beijing Iron Ore Trading Center Corporation (COREX) at Xi’an, Shaanxi Province.
Mr. Luo urged the majority of participants in the upstream and downstream of the iron ore industry chain to focus on the pricing mechanism, strengthening communication and exchange, improving the construction of the platform and opening up new horizons. He hoped that COREX could continue to play a key role in promoting the formation of an open and fair iron ore pricing mechanism.