7 Chinese steel companies are planning to set up a working group on iron ore to study key issues, monitor market development, assist in solving problems related to iron ore at sea, and make proposals to government bodies. The iron ore market symposium, held on June 27, was chaired by Vice President of the Chinese Iron and Steel Association, Qu Suli, and was attended by Deputy Secretary General of CISA Van Inchen, market researchers and members from Baovu, Anganga, Shougan, Shagan, Maganga, Valina and other countries. Laigang. The working group is expected to ask the central authorities to inspect the market and invite futures and derivatives experts, as well as traders, to develop measures to stabilize the market.
The protocol also reflects concerns about overcapacity. Investments in fixed assets in the metallurgical and rolling industry grew by 30.6% in the first quarter.
Foreign mining companies are encouraged to adopt various price indices and continue to improve the pricing mechanism for long-term contracts with Chinese steelmakers, the protocol says.
