On November 15, the current trading volume of China's iron ore spot trading platform has initially reached the expected level. The benchmark price of the platform is basically consistent with the third-party data, and is constantly improving. Combined with the actual transaction price and price fluctuations outside the platform, the spot price trend of iron ore can be revealed. Guo Xiaojie, vice president of Beijing International Mining Exchange, said. Since the collapse of the iron ore annual long-term agreement price mechanism in 2010, iron ore pricing methods have emerged one after another, but there is no way to dominate the market. The spot platform has sold 5.29 million tons. Guo Xiaojie said that as of November 13, China's iron ore spot trading platform had a total of 917 transactions, including about 80 million yuan for inquiry, 28 million tons for purchase, and 51.8 million tons for sale. 5.29 million tons. China Iron Ore Spot Trading Platform was jointly established by China Iron and Steel Industry Association, China Minmetals Chemicals 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 a phased progress in China's exploration of a more just and transparent iron ore pricing mechanism. It is understood that China's iron ore spot trading platform currently has 191 members, including 81 steel companies, 103 traders and 7 foreign mining companies. Guo Xiaojie said that the Chinese iron ore spot trading platform reflects the role of market allocation resources to truly reflect the supply and demand relationship in the iron ore market. In the future, we must further improve the service level, strive to achieve more trading volume, and compete with other trading platforms. Following the China Iron Ore Spot Trading Platform, GlobalORE, the Singapore-based iron ore spot trading platform, officially began trading on May 30. According to Lu Shen, global market marketing manager, Baosteel, Minmetals and Hunan Valin Steel from China, Swiss energy trading giant Glencore and “Three Big Mines†became their founding shareholders. Currently there are 64 members and 5 specifications of iron ore. Stone variety trading. However, GlobalORE's transaction data shows that in October, there were only more than 10 days of trading volume, and more than 100,000 tons of small orders. Lu Shen admitted that it is still in the early stages of development and the transaction volume is not large. Volume is very important to the trading platform and more exploration and effort is needed to attract traders. The trading platform is fiercely competitive. Liu Yanzhen, senior manager of the Chicago Mercantile Exchange, said that since the international iron ore price has changed from the long-term index to the index, the iron ore price has fluctuated more. The participants in the steel industry need to manage risks and realize price discovery. Tool of. The trading volume of the Chicago Mercantile Exchange covers almost all aspects of the steel industry, including rebar, iron ore, coke, scrap and other varieties. The current Chicago Mercantile Exchange is pushing iron ore futures trading. In fact, the iron ore trading platform with financial attributes on the market is far more than the spot platform. “There are many pricing models, such as indices, futures, swaps, stocks, etc. But the iron ore market is very big, and no model has yet been able to rise to the 'pricing power' model.†Song Tianxiang, executive vice president of my steel network, said . On November 7, Liu Xingqiang, general manager of Dalian Commodity Exchange, said that the CSRC has approved the listing of iron ore varieties by the Dachs. This means that in the iron ore trading market, there is another new trading platform to choose from. This will form a direct competition with the Chicago Mercantile Exchange. In this regard, Liu Yanling said: "Competition is inevitable, after all, there is no way to monopolize this market."
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